The management team at Exeter-based veterinary specialist recruitment firm Liberty Vets Recruitment has acquired an 80% stake in the business.

The current 100% shareholder of Liberty Vets Recruitment sold an 80% stake to its management, comprising Laura Mould, Colin Durbin, Sam Wilkinson and Emma Liddon.

The company was founded in 2013 and provides recruitment services to the UK veterinary market, placing both locum staff on a temporary and contract basis and permanent veterinary surgeons and nurses to practices across the UK.

For the 2018 financial year, the company’s turnover stood at £4.6 million, an increase of 26% compared to 2016.

“The Management Buy Out (MBO) will enable the management team to benefit from the growth they are delivering, while further expanding the company’s market presence in the medium to long term,” the group announced.

Liberty Vets is backed by recruitment incubation and support business SSG, which provides support services including legal, accounting, payroll and creative branding, to recruitment companies.  RG Corporate Finance partner Carl Swansbury and Corporate Finance executive Adam Cassidy advised on the sale with tax advice provided by RG’s Corporate Tax partner Simon Whiteside with legal advice coming from Newcastle-based Ward Hadaway, led by Corporate Partner, Tom Pollard.

The MBO Team was advised by Simon Porter from Machins Solicitors LLP. Funding for the MBO has been provided by AIB, led by Kevin Goodall, with Haines Watts undertaking financial due diligence on behalf of the bank.

Laura Mould, from the management team, commented, “The veterinary recruitment expertise that exists in the business has enabled it to establish a strong and trusted position in the market, which I am confident the management team will continue to build upon. We have the experience and entrepreneurial drive to further put our stamp on the business, using the resources procured from SSG, to focus on enhancing its relationships with candidates and veterinary practices across the country.”