Global recruitment group bought by experienced management team

PKF Francis Clark advised the management team of the Serocor Group, a market leading talent resource management and recruitment business headquartered in Portsmouth, on their successful management buy-out.

With more than 200 employees, Serocor has developed a first-in-class reputation in resourcing high tech, high quality job roles across an international blue-chip client base, ranging from tech giants such as Google and IBM to vehicle manufacturers including Ford and Nissan, plus a strong defence sector supported by the group’s international expansion across US and German markets, resourcing clients such as Airbus.

Paul and Matt provided superb advice in a down to earth manner and their hard work in presenting the business to the appropriate lenders allowed us to access the right funding

The management team, comprising Dave Wilson, Leon Howgill and Shaun Pope, were supported by Paul Stout, Matthew Wilmott, Holly Bedford and Lisa Whitbread at PKF Francis Clark, with financing provided by specialist asset based lender Breal-Zeta CF.

Commenting on behalf of the management team, Dave Wilson, Serocor’s chief operating officer, said: “Paul and Matt provided superb advice in a down to earth manner and their hard work in presenting the business to the appropriate lenders allowed us to access the right funding at Breal-Zeta to realise our ambitions. We cannot recommend them highly enough. Our people, management focus and team spirit are the key to our whole operation, and, together with our technological prowess and expertise, will enable the business to fulfil its potential.”

Paul Stout, Corporate Finance Partner at PKF Francis Clark, said: “The management team have been instrumental in delivering the performance of Serocor’s core business, and this deal will allow them to drive their ambitious growth. Despite the uncertainty this year, the transaction demonstrates that for businesses that are resilient in sectors such as cyber, infrastructure and defence, when presented appropriately to the funding community there is support for management buy-outs.”

Legal advice to the management team was provided by Moore Barlow, led by partner Jeremy Over. The principal sellers were represented by Geldards, and Crowell & Moring acted for Breal Zeta CF.