Womble Bond Dickinson has advised the management team on the management buy-out of recruitment firm Nigel Wright Group. 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.
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.
The Womble Bond Dickinson team advising on the transaction was led by corporate partner Jamie Pass, who has worked with the management team and the business' founder for over ten years. He commented:
"We're thrilled to have assisted the Nigel Wright team on this exciting development for the business which will strengthen the company's position in its key markets. Our strong corporate expertise, coupled with our familiarity with the business, enabled us to move quickly and assist in completing the transaction."
Nigel Wright's CEO, Paul Wilson, added:
“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 were fortunate to have the Womble Bond Dickinson team working alongside us and to have their commitment and support which enabled us to complete the deal on time against a tight timescale and despite the pandemic."
Womble Bond Dickinson's corporate team advises private and public company clients across a number of sectors on a broad range of transactions, particularly mergers and acquisitions, MBOs and private equity and development capital investments and fundraisings. Despite the challenges posed by the COVID-19 pandemic and the ensuing lockdowns, this transaction is the latest in a stream of deals completed by WBD's Newcastle corporate team, with the firm advising on over a dozen significant transactions since March this year.
