Privately-owned nGAGE Specialist Recruitment Ltd., announced that it has acquired UK-based Henlow Recruitment.

Henlow is a QuantTech recruitment business operating in the UK, Europe, USA and the Middle East. The firm was launched in 2013 by joint CEOs Matthew and Andrew Clarke and has since grown to more than 50 people. Henlow operates in over 20 countries in the specialist sectors of quant analytics, quant development, big data, cloud, development and cybersecurity.

No financial details of the acquisition were disclosed.

Tim Cook, nGAGE CEO, commented, "This is another significant milestone for nGAGE and is consistent with our strategy to back high-quality management teams to achieve their growth ambitions in international markets. With the firepower of nGAGE supporting Henlow, we believe it has enormous potential to grow strongly over the years ahead.”

“Investment in businesses in the STEM (science, technology, engineering, and mathematics) sector has changed the balance of our group significantly over the last five years, with STEM now accounting for about 40% of our business,” Cook said. “nGAGE’s international business has grown from 5% to almost 25% of NFI over the last two years. I'm delighted at the latest addition to the group and am genuinely excited about working with the management at Henlow.”

Matthew and Andrew Clarke, also commented,” The nGAGE model was just what we were looking for – support to enable us to accelerate the growth of Henlow, whilst retaining our autonomy and the strong brand we have created. This is an exciting time for everyone who works at Henlow and this development will provide significant capital for expansion of our business and opportunities for everyone who works with us. We will be opening our first US office in early 2019 utilising the international platform nGAGE has built; the next step in developing what we believe is a truly remarkable business."

Cook added, “Matthew and Andrew have achieved an enormous amount with Henlow in just six years. With its specialist focus on Quant and Tech and the majority of business being conducted outside the UK, it is aligned perfectly with nGAGE’s strategy of international growth in STEM.”

Due diligence was carried out by RSM Corporate Finance and Grant Thornton’s CDD team. Legal advice was provided to nGAGE by Shoosmiths LLP. Mishcon De Reya LLP and Deloitte Corporate Finance acted for Henlow.