Mishcon de Reya advised Staffing 360 Solutions, Inc., a company executing an international buy-and-build strategy through the acquisition of staffing organisations in the US and UK, on the acquisition of Clement May Limited. This acquisition marks the company's entry into the Recruitment Process Outsourcing market.
Based in London, Clement May is a growing, leading provider of IT recruitment services.
The above acquisition is expected to boost revenue by $50 million per year and moreover, on an aggregate basis, anticipates bringing the group over the $300 million of annualised revenue level for the first time, on their way to their targeted $500 million level. During the transaction, the MD of Clement May, Chris Rowbotham, was also appointed with the combined role of MD of Longbridge Recruitment 360.
Nick Davis, Head of Corporate and the Recruitment Services Group led the Mishcon de Reya team comprised of Managing Associate Pippa Williamson, Associates Georgia Joseph and Jade Pilling, Recruitment Regulatory Consultant Bridget Wood and Trainee Jinan Jawad.
Nick Davis, commented: "We are delighted to have continued our long standing relationship with Staffing 360 Solutions, by acting on yet another successful acquisition, which is expected to prove a very progressive move for them in the UK market. Having previously acted for Staffing 360 Solutions on its acquisition of CBS Butler Holdings, The JM Group and Poolia UK Limited, this transaction is another indication of continued M&A activity, which we are seeing within the recruitment services sector. The matter allowed us yet again to demonstrate our deep understanding of the recruitment services sector."
Brendan Flood, Executive Chairman and CEO of Staffing 360 Solutions added: " The acquisition of Clement May reflects our continuing focus on strategic M&A activity that, combined with an intelligent integration program, is designed to drive top line growth towards our stated revenue goal of $500 million over the next two years. The acquisition also allows us to deliver additional quality and service to our client base. Nick Davis and the Mishcon team again showed their commitment and support throughout the transaction, proving their dedication to the continued growth of Staffing 360 solutions and as usual demonstrating their unrivalled expertise in our sector."