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Key Capital Partners (KCP) has invested £2 million for a minority stake in specialist energy and resources recruitment firm EarthStream. The investment will be used to drive growth at EarthStream, helping to launch new offices in Japan and the US, the company said.
The London-headquartered recruiter has offices across Europe, Asia, Africa and North America, placing candidates in over 50 countries since its launch in 2010. The firm supplies specialist workers in the oil & gas, mining & resources, renewable energy and power & transmission sectors. In 2012, it generated revenue of over £20 million.
EarthStream was founded by recruitment entrepreneur Paul Beeke who has a history of managing private equity-backed companies. He previously worked at Hays and Harvey Nash, selling one of the firms he founded, James Harvard International Group, to Hays in 2007. Ian Nash, former chief financial officer at Michael Page and Robert Walters, is the chairman of Earthstream.
KCP usually invests in smaller buy-out markets making equity investments of between £2 million and £10 million. The transaction is KCP’s third in the staffing industry, having previously invested in blue-collar labour recruiter Templine and healthcare staffing company Nurse Plus.
“The investment from KCP has come at a perfect time in the company’s growth trajectory,” said Mr Beeke. “We have had an exciting couple of years of fast growth since foundation and the investment and support from KCP will help ensure our rapid expansion continues. It will be used to accelerate our growth plans and help our expansion into Japan and US.”