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UK – HCIG announces management buy-out and plans for acquisitions

27 November 2014

Human Capital Investment Group (HCIG), which comprises boutique specialist recruitment businesses covering four core sectors (Health and Social Care, Public Sector and Not-for-Profit, Engineering, and the Built Environment) announced yesterday the successful completion of a management buy-out, backed by private equity firm Graphite Capital.

The management buy-out was led by Tim Cook, Group CEO, supported by Adam Herron, Group COO, and Michael Sterling, Group Finance Director, all of whom will remain in place together with the existing management of HCIG’s trading companies.

Mr Cook noted: “Graphite Capital is a natural partner to HCIG, as they have a true understanding of the recruitment sector, which will assist us in continuing the exciting expansion of the group. Graphite will also give the company access to capital for potential acquisitions. The high quality management team at HCIG will remain in place and it is very much business as usual for our 500+ staff, who remain focused on delivering market leading specialist recruitment services. The shared experience of the two organisations creates a powerful force in the recruitment sector.”

Graphite Capital has experience in the recruitment sector, with a track record of developing recruitment businesses, such as: Alexander Mann Solutions, the talent acquisition and management services provider; Education Personnel, the supply teaching specialist; and NES Global Talent, the international technical recruitment group focused on the oil and gas sector.

Mike Tilbury, Senior Partner at Graphite, added: “This is an exciting opportunity to back an experienced and high-quality management team that has proved it can achieve impressive financial performance in its target markets. Looking ahead, HCIG has a multi-strand growth strategy that spans organic development, together with further brand incubation and acquisition opportunities. We look forward to working with Tim and his team.”

HCIG was established in 2007 and following Tim Cook joining the company as Group CEO in May 2013, the group has increased its revenue by +25%. At an individual company level, two of the companies firms Resourcing Group and ewi Recruitment have more than doubled their revenues over that period. The other established companies within HCIG; including Caritas, Eden Brown, Synergy, and Proactive, have also achieved rapid growth in revenues and profitability.

Since January 2013, four new start-up recruitment businesses were launched: Butler Rose and Financial Resourcing Group, within the Accountancy & Finance and Financial Services space; AlphaTec Consulting, an engineering specialist; and Apollo Nursing, HCIG’s first healthcare business.