Absolute Solutions Group was advised by Alextra Accountants in Crewe. Bevan Rose Corporate Solicitors and Dains Accountants advised the buyer.
Absolute Solutions Group is based in Cheshire. It has large blue-chip customers in Staffordshire and Cheshire. The company also has additional branches in Winsford, Crewe. Absolute Commercial, Absolute Health and Care, Bralin Recruitment and Absolute Recruitment are all subsidiaries of the company.
Wrexham’s gap personnel are part of the TSE-listed Open Up Group Ltd. With more than 300 employees, the company has a turnover of over PS200 million. The acquisition of Absolute Solutions Group will allow the two companies to have access to more technologies, talent, and infrastructure in order to expand their mutual presence in the UK’s recruitment market. This deal coincides with the 20th anniversary celebrations of Absolute Solutions Group’s founding.
Absolute Solutions Group chief executive Dan Marshall applauded the merger. He stated that the cultural fit between Absolute Solutions Group and gap personnel was perfect, which will allow them to expand nationally and continue our five-year growth plan. Our people-focused recruiting model, combined with the operational and geographic infrastructure of gap personnel, puts us in a unique position to bid on new client contracts and introduce cutting-edge technologies that will streamline and strengthen our service.
Jonathan Aldersley and Butcher & Barlow –
We need to know more about the deal, and how you helped bring it to fruition.
Split exchange and completion were part of the deal. Additionally, a completion date was set for the first day back after Christmas. As they would retain a 40% share of the business, the deal had to be acceptable for existing shareholders and the management team. Since its inception, we have been involved with the company and have provided advice on many matters throughout those 20 years. We were able to learn so much about the people involved and help them understand their motivations for negotiations as well as any concerns they might have.
Which skills and experiences did you use to make the transaction a success?
With over 25 years of experience in corporate transactions, it was important not to lose sight that this was more than a deal for clients. These deals are often the most important decision they make in their lives and help to secure their future. It is crucial to understand the client’s objectives and to use the knowledge gained from previous transactions over many years to help you achieve them. It is important to know which areas cannot be negotiated and which can be negotiated in order to achieve the main objectives. These points can be identified by establishing a working relationship with your client.
What were your biggest challenges? What were your strategies to overcome these obstacles?
The deadlines and time difference between Japan and the UK were the biggest obstacles. Given that we were working in a Japanese timeframe, the time difference would have caused us to lose many hours over the days leading up to exchange. This meant that we had to plan well in advance and get started earlier than usual.