Huntress taken over by management

Office recruitment firm Huntress Group has undergone an MBO for an undisclosed amount, backed by Japan-based financial services group Nomura.

The management bought the company from investment firm Graphite Enterprise Trust, the sale, together with a refinancing in 2005 means the trust has earned 7.6 times its investment and an IRR (Investment Return Rate) of 38.5 per cent. Graphite backed the start-up of Huntress in June 2000 led by chief executive Gary Laurence.

Huntress provides permanent and temporary staff in the commercial (secretarial and office assistance), accountancy and finance, and technology sectors. Its clients are mainly blue chip companies – many in the FTSE100 – and public sector bodies.

Huntress chief executive, Gary Laurence, said: “Graphite supported us from start-up when the recruitment market was going through one of its most demanding periods. The business has expanded strongly since. With Nomura’s backing we will now build on our brand in the UK and abroad, and look forward to substantial growth.”

Huntress produced annual turnover growth of more than 40 per cent in the past five years, with sales for 2007 expected to exceed £75 million.

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

Related Topics

Management buyout