Business targets £100m income
Atkinson’s Head Group acquires Change Recruitment
Venture capitalist and serial investor Paul Atkinson has acquired Change Recruitment through his Head Group business. It marks the second of two takeovers in the sector in 24 hours.
The deal, for an undisclosed sum, brings Change together with three other recruitment firms to create a business that will become one of Scotland’s 100 largest privately-owned companies. All staff will be retained.
It comes just a day after Scottish recruitment business Brightwork was bought by the Midlands-based Staffline.
The Head Group will comprise four businesses – Head Resourcing, Head Medical, Atkinson MacLeod Executive Search and Change Recruitment. They will each continue to operate under their own brand.
Combined turnover for the enlarged group will be in excess of £60 million and it will operate with more than 140 staff from five UK offices in Edinburgh, Glasgow and Leeds supplying to more than 15 countries.
Mr Atkinson, who becomes group executive chairman, said: “The recent formation of Atkinson McLeod together with our acquisition of Change, complements existing investments in Head Resourcing and Head Medical.
“Together, we are working on an ambitious business plan and by handpicking the best businesses to join us, we are targeting revenues of £100 million by 2020.
“The group will now be able to offer a wide range of recruitment specialisms.”
Callum Lyle, who takes up the position of chief operating officer, said: “Each of our companies will continue to invest in their growth strategies, acquiring the necessary talent to drive performance.
“As the group grows, we intend to add more businesses and we will be concentrating on those that are leaders in their respective specialisms. Our acquisition of Change sets the benchmark for this strategy.”
Mark McFall, managing director of Change Recruitment said: “We have spent the last few years as a private-equity owned company, getting the business into shape so that we could drive growth forward.
“As part of that, we have also restructured the team, securing some of the best consultants in our specialist fields.
“Joining The Head Group is an excellent cultural fit for our business.”
Huw Martin, managing director of Head Resourcing, said: “Lee Murray, deputy managing director, and I along with Jim Godsal, managing director of Head Medical are proud to have built the foundations of The Head Group over many years.
“We are excited at the potential for the enlarged business as we move forward together.”