Twenty20 Capital, a London-based private equity fund focused on investing in the human capital and workforce solutions sector, announced the signing of a deal to transfer ownership of PMP Recruitment, a division of the Cordant Group, to Challenge-trg Group.

Challenge-trg Group, a Recruitment and Employment Confederation member, offers multi-service logistics solutions and provides temporary staffing, haulage and more services to the logistics and warehouse sector. PMP Recruitment operates in the retail distribution, supply chain & logistics, eCommerce, food & agriculture and specialist manufacturing sectors.

Twenty20 Capital is the majority shareholder of the Cordant Group. With revenues under management of £1.5 billion, aside from Cordant, Twenty20 Capital’s portfolio of staffing businesses includes HCRG, HCL Workforce Solutions, Affinity Workforce Solutions, Allied Healthcare, Monarch Education, 360 Resourcing Solutions, Eurostaff, Staffgroup and Sugarman Group.

According to Twenty20, the deal reinforces the company’s focus on creating value for shareholders while remaining well-positioned to support Cordant’s sub-brands: Cordant People, Premiere People and Staffgroup.

Tristan Ramus, Twenty20 Capital’s Founder and Investment Principal, said, “We are delighted to announce the merger of two-sector giants; PMP Recruitment and Challenge-trg Group. After 18 months of considerable investment, the PMP Recruitment business has gone from strength to strength, making it a strategic acquisition for Challenge-trg Group, positioning them as the UK’s largest blue-collar labour provider.”

“The collaborative move demonstrates our ability to identify the right partner at the right time ensuring ongoing success aligned to our own values. I am confident that Challenge-trg Group will propel PMP Recruitment’s capabilities offering industry-leading service to both clients and candidates,” Ramus said.

Cordant CEO Jamie Reynolds, who joins the Challenge-trg Group board to support long term client relationships, transitions and integrations said, “With the support of the Twenty20 board, we have built out and expanded the PMP Recruitment business. In pursuit of operational success, we’ve recognised that Challenge-trg Group is well-positioned to leverage the numerous growth opportunities linked to the brand and the sector it operates in.”

Tom Cropper, Group CEO of Challenge-trg, said, “This is a really exciting time for Challenge-trg Group and PMP Recruitment. By coming together and pooling our resources and experience, we can offer our clients the ultimate service in our sector.”

Earlier this year, the REC announced it had completed its investigation into the allegations made around how workers supplied to an Amazon warehouse by PMP Recruitment and Adecco were treated. It found no evidence of wrongdoing by either company.