We are pleased to announce that Innergy client and leading IT sales recruitment company, Finlay James Associates, has today completed a Management Buyout (MBO) by John and Sara Gaughan, who have completed the purchase of 100 per cent of the shareholding and ownership of the company.
Innergy CEO, James Osborne, has been advising the board of Finlay James as Non Executive Director for the past 18 months and has helped steer the business through to a very new and exciting time ahead.
"Finlay James has transformed over the past year or so and has positioned itself at the forefront of their sector," comments Osborne. "The Management Buyout now opens up a whole new chapter for the business that will see them build on all the hard work and drive the growth of the business to a new level. I am very excited for John, Sara and the team and look forward to what lies ahead as we continue to capture greater market share and increase shareholder value in the business."
As part of the change in ownership, John Gaughan will now become CEO whilst Sara Gaughan takes on the role of HR Director. James May will stay on as Operations Director and Richard Gibbard assumes the role of Director of Talent Acquisition and Training, focusing on internal recruitment and training for the new Finlay James Academy. Ruth Farrar will head up the Birmingham office, as Managing Consultant.
Finlay James Associates, founded in 2003, has offices in Didsbury, Birmingham and St. Albans and currently employs 42 people who source permanent IT, Sales and Digital staff for clients worldwide.
The announcement promises exciting changes for the company. John plans to increase headcount by 50 per cent to service growth across the company within the next financial year. Plans are already in place to open a new office in central London before the autumn.
He said: “I am thrilled to have completed the MBO and whilst we can be proud of our achievements so far, we have big plans for an even more exciting future. Against this background of strategic change, the company will be maintaining a ‘business as usual’ focus – enabling our IT, Sales and Digital clients to gain a competitive advantage through the talent that we supply”.
Chris Holden of Manchester-based accountants and business advisers Saffery Champness was appointed as deal adviser on the MBO, whilst Richard Hepworth and Emma Thomas of law firm Brabners LLP provided strategic legal advice. John Sheridan from RBS also assisted with the purchase.
Richard Hepworth, a Partner at Brabners commented: “I am delighted to complete my first deal at Brabners only four weeks after joining. I wish John and Sara all the best in helping to take Finlay James Associates into the next exciting phase of its development”.
“I would like to pass on my thanks to Saffery Champness, Brabners and RBS for helping us to complete the deal so promptly” added John.