16 May 2017
Venture capitalist and serial investor, Paul Atkinson, has announced the acquisition, for an undisclosed sum, of Change Recruitment by his own recruitment business, The Head Group.
This transaction, which sees all staff retained, brings together four respected recruitment names to create a business that will become one of Scotland’s 100 largest privately owned companies*.
The Head Group will comprise four distinct businesses: Head Resourcing, Head Medical, Atkinson MacLeod Executive Search and Change Recruitment, each of which will continue to operate under its own brand. Combined turnover for the enlarged group will be in excess of £60 million and it will operate with over 140 staff from five UK offices (in Edinburgh, Glasgow and Leeds) supplying to more than 15 countries worldwide.
Paul Atkinson, who assumes the role of Group Executive Chairman, commented: “The recent formation of Atkinson McLeod together with our acquisition of Change, complement 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, including IT, digital and business change; medical (UK & International); executive search; accounting and finance (UK & International); investment and risk; banking and insurance operations; marketing; engineering and technical recruitment designed to ensure we are able to provide a strong and diversified offering to our expanding customer base.”
Callum Lyle, who assumes the role of Chief Operating Officer at The Head Group 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. We share the same values of integrity, honesty and hard work which can only benefit the Change team and our customers as we move into a new and exciting phase of growth.”
Huw Martin, Managing Director of Head Resourcing concludes: “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.”
* Based on Grant Thornton’s ‘Scotland Ltd 2016’ report.