Talent management group Nicholas Associates acquires Ashley Kate HR, a specialist HR recruitment brand, after securing a loan from our corporate transactions team.
A working capital facility has also been provided by the Royal Bank's invoice finance team to support the new group of companies.
Established in 1977, Nicholas Associates offers talent management solutions for SMEs, international corporates and more. Through its Stafforce brand, it offers apprentice and graduate placement, temp and perm white and blue collar jobs. The Nicholas Associates brand specialises in permanent professional roles, consultancy and software. The business has an ambitious organic and acquisitive growth strategy. It aims to become the number one partner of choice for talent management solutions.
Headquartered in South Yorkshire, Nicholas Associates now has 16 branches and 24 on-site operations stretching from the north of Scotland to the south coast of England.
The loan to co-fund the acquisition of the Ashley Kate HR has been instrumental in supporting the company's plans. It has helped them achieve key milestones during the first year of their five-year growth plan. This is Nicholas Associates’ second acquisition in just six weeks, having acquired XL Graduate Placement at the end of 2015.
Established in 2001, Nottingham-based Ashley Kate HR has developed into the HR recruiter of choice. It supplies a wide range of SMEs, large corporates, public sector and FTSE 100/250 companies with permanent and temporary staff.
Naomi Asher, one of the vendors, will remain with Ashley Kate HR to drive continued growth and support Nicholas Associates' management team with the integration process. Internal promotions have secured a second-tier operational management team.
Lisa Gainsford, CEO of Nicholas Associates:
"The acquisition of Ashley Kate HR is an essential step in diversifying Nicholas Associates into specialist HR recruitment. The company brings a strong brand and online social media presence, robust financial performance and a specialism that complements our other professional arms of engineering, finance and executive recruitment.
The Royal Bank teams have been pivotal in bringing this acquisition to a successful completion and we thank the deal team involved for their valued input and desire to support our business."
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