Mishcon de Reya advised Staffing 360 Solutions, Inc., a company executing an international buy-and-build strategy through the acquisition of staffing organizations in the United States and in the United Kingdom, on its acquisition of CBS Butler Holdings.
Nick Davis led the team at Mishcon de Reya and was assisted by Corporate Associate Georgia Joseph, Recruitment Regulatory Consultant, Bridget Wood, Employment Managing Associate, Laura Penny and Real Estate Managing Associate, Helena Liebster.
Nick Davis commented:
"We are very pleased to act again on another successful transaction for our long standing client, Staffing 360 Solutions. This transaction is indicative of continued activity which we are seeing within the recruitment sector at present notwithstanding the economic uncertainty around Brexit."
Brendan Flood, Executive Chairman of Staffing 360 Solutions added:
“These developments are a game-changer for our company, vaulting us much closer to our goal of becoming a $300 million annualised revenue business. The advice received by the team at Mishcon de Reya was as always first class and their expertise within the recruitment services sector and the support to us in this transaction were invaluable."
CBS Butler Holdings Limited is a UK-based firm specialising in engineering and IT staffing. With a further acquisition in the US, on an aggregate basis, the above acquisitions are expected to add approximately $85 million to the top line, resulting in $265 million of annualised revenue, and more than double the pro forma Adjusted EBITDA of Staffing 360’s overall business to $12 million on an annualised basis.