Search acquires tech group in first post-MBO deal
Grahame Caswell: ‘enhances our capability’
Glasgow-based Search Consultancy has announced the acquisition of Henderson Scott, a provider of executive search and recruitment solutions in technology.
The acquisition, its first since undergoing an MBO, gives the newly created Search Group a combined revenue of £220m and EBITDA of in excess of £10m. It will have more than 750 staff across 17 UK offices.
With a senior team boasting more than 50 years’ experience in IT recruitment, Henderson Scott’s core strength sits across six core markets: enterprise architecture, IT infrastructure and data centre, enterprise cloud, digital and business transformation, cyber security and software technology.
Established in 1999 by CEO Mark Bailey, the business has offices in Amersham and London. Working with range of leading names in tech, the 50+ staff base – under the current leadership team – will continue to grow the Henderson Scott business under its existing brand, operating as part of the Search Group. Mark Bailey will also join the Search board as a part of the acquisition.
The Search Group board believes it is perfectly positioned to develop Henderson Scott and leverage the group strength, providing access to its wider service proposition.
It also sees opportunity for the wider Search business to leverage opportunity for Henderson Scott via its people, relationships and reputation, to support future growth.
Search Group CEO Grahame Caswell said: “This is the first acquisition we have undertaken since Search’s MBO and refinancing. It significantly enhances our capability in the technology space and gives us real market presence in London.
“The converging world of IT continues to present exciting opportunities and with a rapidly expanding cloud market place the acquisition of this highly scalable UK business is a clear strategic fit for the Group.
Henderson Scott CEO, Mark Bailey said: “This is an exciting time for both businesses. I am delighted that Henderson Scott has joined a Group with the ambition for growth as well as the infrastructure to continue supporting and developing our service offering and our people.
“Backed by the scale of the Search Group, including geographical reach, complementary technology expertise and experience across its verticals, we are very much looking forward to realising our potential as part of the bigger team.”