Ethos Recruitment new owner

Staffline Group Plc has today announced the acquisition of Ethos Recruitment Limited in a deal advised on by RSM Tenon Corporate Finance. The value of the transaction remains confidential.

Based in Nottingham, Staffline Group Plc provides staffing and training services to a number of clients across an array of industry sectors throughout the UK. Staffline Group Plc, the AIM listed staffing business was first established in 1986 and has achieved outstanding growth in the last 10 years both organically and by acquisition.

Ethos Recruitment’s first started in Daventry in 2003 by Julia Doherty and Matt Mumford as a husband and wife partnership.

Focusing on both temporary workers, driving and logistic companies in the area they quickly established one of the regions most successful recruitment businesses.

Negotiations for the sale of the business were conducted by a team from RSM Tenon, led by Carl Swansbury and Mukesh Bulsara who have worked closely with the owners of Ethos Recruitment Limited to identify Staffline Group Plc as a potential buyer for the business due to the strategic fit of the two businesses.

Carl and Mukesh also managed the deal through to completion. Commenting on the Deal, Carl Swansbury, corporate finance senior manager said, ‘This is a fantastic result for both Ethos Recruitment and Staffline Group Plc – the businesses fit perfectly. In Matt Mumford and Julia Doherty we found two exceptional entrepreneurs and not least a very well run business. It has been a real pleasure advising and leading the transaction and we wish both Ethos and Staffline every success together going forward’.

Julia Doherty who will continue on in the business to help build Staffline group’s offering commented on the sale saying ‘What an exciting future that lays before Ethos Recruitment. Joining forces with an ethical company that truly cares about their clients and applicants is the main reason we selected Staffline Group. They have the influence of a strong national agency, with the attitude and ethics of a smaller independent – what a great combination. Staffline are really going places and The Ethos Team are looking forward to the journey ahead. ’

Tim Jackson, FD of Staffline Group Plc said ‘We were very impressed with the business and felt it would be a great complimentary fit with our business. They have a great customer base that we hope to build on. This continues our strategy of acquiring businesses and we continue to look for further opportunities’

Legal advice was provides by Chris Rees, Nelsons Solicitors for Ethos Recruitment and Browne Jacobson handled the legal advice for Staffline Group.