Swindon-based independent recruitment agency Mainline Employment has been sold to a West Midlands-based group.
Mainline was launched in Swindon in1990 by owner Stella Weeks and later went on to expand into Bristol where it has two offices. It now employs 40 people and is one of the leading independent recruitment agencies in the South West specialising in industrial, warehousing and transport placements.
The sale to Walsall-headquartered First Personnel Group, which has 17 branches across the Midlands, North and Scotland, was handled by regional law firm Thrings’ Swindon office and corporate finance specialists Watersheds.
Stella was introduced to Watersheds by her bank manager to take advice on finding an appropriate buyer and structuring a deal that was capable of completing without disrupting the business.
The transaction was led by Watersheds’ Swindon-based partner Jessica Painter, while Thrings senior corporate partner John Davies and associate solicitor Simon Hore worked with the firm’s commercial property, commercial and employment teams to provide strategic and legal advice to Mainline.
The deal, financial details of which have not been disclosed, will enable Mainline Employment to continue expanding its service offering to regional clients in the commercial, office, industrial and transport sectors.
Jessica Painter said: “It was essential for Stella to find a buyer which shared Mainline Employment’s ethics and ethos to ensure the organisation’s excellent customer service levels and the environment and prospects for staff were maintained.
“We introduced Stella to First Personnel Group after recognising a number of similar traits between the two businesses and their respective owners. The acquisition is a significant development for both organisations and their portfolio of clients, and we wish all parties every success in the future.”
Mr Hore said: “It became very clear throughout the transaction just how much Mainline Employment and its staff mean to Stella. As such we were delighted to have worked closely with Watersheds to conclude a deal which will allow Stella to remain involved with the business while taking a well-deserved step back from day-to-day duties.
“In addition to signalling the start of a bright new era for its own teams of experienced consultants, the acquisition is great news for Mainline Employment’s clients and the hundreds of candidates it places in temporary and permanent roles each year.”
Stella, who will continue as a consultant to the business, said: “This was a once-in-a-lifetime opportunity, and Watersheds and Thrings treated it as such. Both teams offered clear and concise advice, demonstrated great commercial awareness, negotiated calmly and effectively, and provided first-class project management to ensure the business realised its true market value.
“To have found a buyer that believes in our family values was also extremely important, as well as one whose corporate disciplines will allow Mainline Employment to continue to grow in the future.”
First Personnel Group last year turned over £70m and placed more than 150,000 workers.
Pictured, from left: Simon Hore of Thrings, Stella Weeks from Mainline Employment, Jessica Painter from Watersheds and John Davies of Thrings
