The Executive Directors at Nigel Wright Group have recently completed a management buy-out. The MBO was the result of a wider corporate restructuring exercise which was supported by the existing majority shareholders Baird Capital Partners Europe Ltd and senior lender Beechbrook Capital LLP, who both remain involved with minority stakes.
The transaction was led by Paul Wilson, Chief Executive, and fellow Directors Mark Simpson, Lars Herrem and Mark Ingleson, who together with the wider leadership team now own a majority shareholding of the group.
Nigel Wright Group has operated for over 30 years from its headquarters in Newcastle upon Tyne where it remains the leading and largest specialist recruitment firm in the North of England, and has expanded across Europe to become Europe’s number one consumer sector search specialist.
Paul Wilson comments: “I am delighted for the management team to have a majority shareholding of the business. Our MBO provides greater independence to direct and incentivise our growth. We will continue to strengthen our brand by keeping close collaboration, team-work and excellent service at the heart of what we do.
Whilst the impact of the pandemic has clearly been felt by all, both our Regional business in the North of England and wider Consumer business across the UK and Europe have continued to help local, national and global brands recruit the best talent and actively help adapt and strengthen their capabilities to deal with market challenges head on.
I would like to thank both Beechbrook and Baird for their continued support and all the advisors involved getting this transaction completed remotely. My team and I are excited about the future prospect and opportunities for the group.”
Management were advised by Jamie Pass at Womble Bond Dickinson, Nick Johnson at Ryecroft Glenton Corporate Finance & Richard Podd and Richard Schofield at PWC. Baird were advised by Eversheds Sutherland, Beechbrook were advised by Pinsent Masons. Nick Johnson at Ryecroft Glenton Corporate Finance commented: “As Nigel Wright Group has grown the business has remained agile and responsive to changing market demands. This is testament to the strength of the management team. We are very pleased to have supported the management team with advice during this transaction, which will encourage further continued growth in Nigel Wright’s operations and strengthen its position in key markets.”