Adama Capital has made its latest portfolio acquisition of Industrious Recruitment Ltd, the company now joining the Taskmaster Resources group.
Industrious is the third addition to the group, following the acquisitions of RE People and Tailor Made Commercial. The acquisition expands Taskmaster’s service capability across Central and Southeast England, helping to establish the group as a genuinely national provider of temporary and permanent recruitment services.
After a period of strong organic growth, along with complementary acquisitions, the enlarged group will generate combined revenues of approximately £120 million per annum.
Industrious has built a particularly strong presence in Milton Keynes and the surrounding M1 corridor – an important and attractive recruitment market.
“Industrious is an excellent strategic fit with Taskmaster,” said Adam Fletcher, Managing Director of Adama Capital. “It provides the group with an established presence and local delivery capability for this important hub location. We are looking forward to working with Lou, Cheryl, and their outstanding team as we continue our ambition of building Taskmaster into one of the UK’s leading providers of industrial recruitment and managed services.”
Lou Matthews and Cheryl Parish will continue to lead Industrious and will join the wider Taskmaster leadership team.
Lou Matthews, Managing Director of Industrious Recruitment, commented: “Cheryl and I are delighted that Industrious is joining the Taskmaster group. It was important to us to find a partner that understood our business, valued our team and shared our ambitions for its future. Becoming part of a larger national group gives us access to new relationships, resources and opportunities, while allowing us to retain the identity and customer-focused approach that have made Industrious successful. Exciting times ahead for us, our employees, clients and candidates.”
The acquisition was funded by Barclays. Legal advice was provided by Brabners and DFA, with Philip Ellis of Optima advising the sellers.
