Swindells’ client Sammons Recruitment Group, acquire Brightred & On Track
Swindells are proud to announce that clients Sammons have acquired Brightred and On Track as part of their major growth strategy. Swindells provided accounting and tax support throughout the process culminating in a positive result for our client. Below is the Sammons press release:
Sammons Recruitment Group has acquired IT recruitment experts Brightred Resourcing and Hampshire based generalist recruitment consultancy On Track.
As well as achieving strong organic growth, the Group’s service offering is building from strength-to-strength through acquisition of businesses with shared values and a strong focus on customer service excellence. Furthermore, Brightred significantly deepens the Sammons service provision in the key IT sector, and On Track brings on board a highly successful recruitment team in an attractive geography.
Sammons now has over 30 staff based across the South East.
The two deals are part of a wider buy and build that is underway, enabling Sammons to become a much larger business, while also moving into new markets and extending the breadth of its recruitment service provision to both clients and candidates alike.
Michael Allen, the previous owner of Brightred, has joined the Group through this transaction. Michael said, “I’m delighted to now be joining the wider business, becoming a part of Sammons’ journey, staying on to further grow the business and strengthen the core recruitment services being delivered, particularly in Information Technology.”
As well assisting with the securing of funding, corporate finance specialists Shaw & Co advised Sammons on its overall acquisition strategy. Legal support was provided by Gaby Hardwicke Solicitors, and accounting and tax support by Swindells.
Harriet Smith, Sammons CEO said: “As companies embrace the change driven by Covid-19, there has never been a better time to both broaden and deepen the recruitment offering of Sammons. We’re executing on our strategic growth plan through attracting highly complementary businesses and market-leading talent to meet the demands of our current and future clients.”
If you or your business have any questions or need advice regarding acquisitions please get in touch with Melanie our Managing Partner who will be able to advise you further.
The Chancellor announces the Autumn Statement. What does it mean for you?
The Chancellor Jeremy Hunt, has presented his Autumn Statement which he says is focused on growing the economy through reducing debt, cutting taxes and rewarding work. He stated that, ‘Our plan for the British economy is working, but the work is not done.’ This article will provide a summary of the measures announced. Do look out for a full report that will be sent to our newsletter subscribers in the coming days.
A guide to capital gains tax exemptions and the family home
A valuable relief exists on the sale of the family home, but in certain situations careful planning is required to ensure that the relief is obtained. The capital gains tax (CGT) exemption for gains made on the sale of your home is one of the most valuable reliefs from which many people benefit during their lifetime. In this article we look at the operation of the relief and consider factors that may cause it to be restricted.
Sign up to receive our private content
straight to your inbox