Recruitment specialists FlexPlus have been acquired by a US technology giant after being successfully advised by Newcastle lawyers Square One Law.
The $800m turnover technology, staffing and consulting services firm Corporate Resource Service inc (CRS) has acquired Flex Recruitment Plus Limited (FlexPlus) based in Hinckley, Leicestershire.
FlexPlus is a national staffing and technology business specialising in placing temporary, contract and permanent candidates into the logistics, fulfilment, warehousing and retail sectors.
The founders and shareholders of FlexPlus will remain with the business and will be work alongside CRS to help strengthen and deliver the acquired firm’s services to new and existing clients.
Mark S Levine, chief operating officer for CRS said: “We are very excited with the addition of FlexPlus to our team.
“This acquisition will act as our platform company in Europe and we will be utilising the existing management team at FlexPlus to build our European business both organically and through acquisitions.”
Ryecroft Glenton Corporate Finance, who were instrumental in the deal, worked closely with corporate law firm, Square One Law to complete the transaction.
James Bryce, corporate partner at Square One Law said of the deal: “Having worked with the management team at FlexPlus over a number of years it was great to be part of the team delivering this transaction, which represents a fantastic opportunity for both the management of FlexPlus and for CRS to build the UK business.”
RGCF’s director Carl Swansbury identified FlexPlus as a suitable acquisition target.
Swansbury said: “This is a great transaction to have advised on – one which has resulted in one of America’s largest technology and staffing companies acquiring a privately owned business here in the UK.”