UK-based recruitment outsourcing specialist, de Poel, has been acquired in a multi-million pound management buyout led by group Managing Director, Andrew Preston, and his senior management team.

The team has acquired a majority stake in the group from the previous owner and founder Matthew Sanders to support further expansion and the continued development of products, technology and sector-specialisms.

 John Walker, who previously worked at investment firm Equistone Partners Europe and Barclays Bank, will become de Poel’s new non-executive Chairman and will support the board in all aspects of corporate governance and delivering strategic growth plans.

Tosca Debt Capital, based in Manchester, provided a facility to support the MBO.  The deal was led for Tosca by Judith McMath, corporate development director. Santander Structured Finance, de Poel’s incumbent bankers led by Chris Thomas, also delivered a facility to assist the transaction and provide on-going working capital.

“Having been part of the de Poel journey for the last three years, I am very much looking forward to taking the reins and leading the company forward,” Preston said.

“As the NHS continues to face extreme budgetary pressures and private firms wait to see what the fall-out from Brexit may be, organisations are increasingly looking for commercial and administrative efficiencies in their temporary recruitment processes - without compromising on quality or fair pay for workers. de Poel has a huge part to play in providing this service in the UK and we will be refocusing our efforts on cementing our position as a leader in this field,” Preston said.

“We’re delighted to have been able to support the de Poel management team in completing this transaction,” Gary Davison, partner at Tosca Debt Capital, said. “The deal positions the business and management team in a way that will allow it to achieve its full potential in terms of growth and maximise shareholder value over the next few years. 

De Poel was advised by Park Place Corporate Finance, with David Hardless and James Croxen leading the deal.

Founded in 2001, de Poel delivers cost-effective, quality-driven solutions to transform the engagement and management of an organisation’s non-permanent workforce. Its clients span the NHS, public sector and privately-owned brands.

No further details of the transaction were disclosed.