fds, an award-winning corporate finance firm, has advised on the management buyout of a Yorkshire-based recruitment and HR company.
Castle Employment is an award-winning recruitment company with bases in Scarborough, Hull, Leeds, and York and provides nationwide recruitment and HR solutions.
Benefiting from over 50 years of experience, Castle delivers temporary, permanent, and contract recruitment solutions for businesses and has long-term partnerships with both clients and job seekers.
Kerry Hope, Castle’s Managing Director, is pleased to announce the details of a change in ownership of the company, having now acquired all the shares of the business.
Suzanne Burnett, previous MD from 1997 – 2017 and later Director, will remain with the business as a consultant, providing support to Kerry and the team.
Kerry is excited to expand on Castle’s position in the market and commented: “These are exciting and challenging times for the recruitment industry, we’re determined to take the opportunity with both hands and write the next chapter in Castle’s story. Thanks to fds for their ongoing support”.
Poonam Kaur, CEO of fds, led the management buyout alongside Founder and Chairman Jo Haigh. She said: “Jo and I are delighted that we were able to support and advise on the management buyout for Kerry and Suzanne. We have no doubt that Kerry will continue to build on Castle’s success and take the business to the next level”.
A management buyout (MBO) involves selling the business to the existing management team. This is a preferred exit option as the management team is already familiar with the business, and thus an MBO can provide a sense of stability and smooth continuity for employees, customers and suppliers alike.
fds is happy to support you on your business journey and has a vast professional services offering that may be of interest to you and your company. Please click the links to learn more about succession planning, including selling your business or how to execute a management buyout, or please get in touch to schedule a confidential call with Poonam Kaur.