Global recruitment firm Nigel Frank International is creating 100 graduate level jobs in Newcastle over the next three years after North East advisers helped it raise £22m to take it on the acquisition trail.
Nigel Frank, which began life in a small serviced office on Mosley Street seven years ago and now employs 320 staff in Newcastle, London, New York, Singapore, Melbourne and San Francisco, has raised the money from ISIS Equity Partners, which has taken a 35% stake in the company, and HSBC.
The firm, which was advised on the transaction by North East advisers from UNW’s corporate finance and tax teams and law firm Ward Hadaway, will use the cash to buy up other relevant businesses and further fuel its growth.
The company, which was formed by Sean Wadsworth and Nigel O’Donoghue in 2006 and counts the Lotus F1 team and Microsoft among its clients, will also use the funds to open up new offices in the US and to cover Europe, the Middle East and Africa (EMEA).
CEO Sean Wadsworth said: “Nigel and I are delighted to be working in partnership with ISIS to drive the business forward over the next three to five years.
“We are an international business which covers the whole of Europe out of Newcastle and so we are looking to recruit 100 new staff in Newcastle over the next three years, with 30 live vacancies for graduate calibre people who can speak more than one language.
“The reason we chose to locate the business in Newcastle was because we have access to 90,000 students within a 10-mile radius of the city centre. That remains really important to us today as the majority of our recruits are graduates.
“We are particularly pleased to be able to create a new category of shareholder in our management team to reward and incentivise them over the coming years.”
Paul Kaiser, partner at Newcastle business adviser UNW, led the firm’s team providing corporate finance advice to Nigel Frank and was instrumental in putting the deal together.
Kaiser said: “Sean and Nigel have built Nigel Frank into the global market leader in Microsoft Dynamics recruitment.
“Specialist recruitment propositions are attractive to the institutional community because they offer exposure to international markets and high growth potential. As a consequence, interest in the business was high.
“ISIS tabled a proposal that was attractive on a number of levels and will allow Sean, Nigel and the management team to accelerate the growth of the business. UNW is delighted to have been able to work with the team in developing a North-East business into a global market leader.”
Ward Hadaway head of corporate finance Martin Hulls said: “We are delighted to have assisted the team at Nigel Frank International on such an important transaction. In just seven years, the company has grown to become a true world leader in its field and this investment will help to expand its global footprint still further.”
Nigel Frank specialises in recruiting permanent and temporary contract candidates into vacancies relating primarily to Microsoft Dynamics software across the globe.
ISIS Equity Partners investment director Xavier Woodward said: “We have been impressed by the way Sean, Nigel and the team have combined their entrepreneurial flair with a thoughtful approach to building a robust business with a genuinely international footprint.
“We are looking forward to working with the team to consolidate and build on this strong market position.”