Dealmakers from Newcastle’s Ryecroft Glenton Corporate Finance advised on the acquisition of recruitment outfit Smart Moves by Antal International.
Milton Keynes-based Smart Moves will become part of Antal’s network of more than 120 offices in 30 countries.
Established by a partnership of Julia Hale and Louisa Harris in 2000, Smart Moves places office-based personnel into a variety of temporary and contract roles across a range of sectors.
Antal International, which was founded by chief executive officer and chairman Tony Goodwin in 1993, employs around 800 people around the world.
Ms Hale will continue as managing director with Ms Harris supporting the development of the business in a consultancy role.
Ryecroft Glenton Corporate Finance partner Carl Swansbury oversaw the deal, which also required support from EMW, HH LLP and Ward Hadaway.
Mr Swansbury said: “The recruitment industry is evolving to meet the changing landscape of the employment market and the economy. This acquisition will strengthen Smart Moves’ position in the Home Counties while also enabling it to support Antal’s international operations.
“We are delighted to have been able to advise on this transaction and utilise our increasing expertise in the recruitment sector to ensure a satisfactory and timely completion.”
Ms Harris said: “We have built a strong and sustainable business that will be able to utilise Antal’s international reach to increase the opportunities open to our growing client base.
“There are a substantial group of companies based in Milton Keynes, which we have established successful relationships with, that also have operations around the world. They will be able to utilise Smart Moves’ new presence in international markets while continuing to benefit from our high levels of local personal service.”
Antal’s Tony Goodwin said: “Welcoming Smart Moves into the Antal International Group is an essential part of our growth strategy across the UK. Through a programme of buy-to-grow acquisitions we aim to increase our multi-discipline offering by taking advantage of the talent and drive of recruitment businesses outside of London.
“Having a presence in Milton Keynes is as essential as it is to be in Moscow or Mumbai. The town is one of the fastest growing areas in the UK and Smart Moves position in the expanding and increasingly important temporary and contract employment market will be of real benefit to Antal International.”