City recruitment firm gains investment as turnover on course to double.
Lloyds investment for Concilium.
Concilium Search has secured a seven-figure funding package from Lloyds Bank Commercial Banking to expand its international footprint. Established in 2015, the business specialises in search and selection for both permanent and interim contracts across four core industries including life sciences, industrials, IT and management consulting. It is headquartered in the City of London and has offices in New York and Amsterdam. It currently employs more than 50 colleagues, and services clients in over 40 countries across Europe and North America.
The funding package, which forms part of Lloyds Bank’s commitment to deliver £2.6 billion to firms in the capital in 2019, will enable Concilium Search to support its cash flow as it grows the global presence of the business.
This follows a successful year for the firm, with the opening of its New York office in late 2018 boosting global average monthly sales by 30 per cent, and the launch of its Amsterdam office increasing European sales by 35 per cent. With Lloyds Bank’s support, Concilium Search will invest in growing its three offices and its international client base, aiming to double its turnover in the next twelve months. As a result, the firm expects to create up to 35 new jobs over the coming year.
“We have a trusted reputation and proven track record of not only placing high-quality candidates in roles, but also building long-term partnerships with our clients, helping to drive their companies forward,” said CEO Maduka Okeke. “Lloyds Bank has taken the time to understand who we are as a business and our goals, which has led to it providing a funding package that’s suited to our needs.
“With Lloyds Bank by our side, we have every confidence we’ll realise our wider and long-term ambitions, growing both our headcount and client base,” Okeke adds.
“The recruitment industry has grown consistently in the last few years and is fast becoming one of the UK’s leading and most dynamic sectors – boosting both the economy and the labour market,” Marcus Carolan, associate director at Lloyds Bank Commercial Banking, said. “As the launch of the firm’s New York and Amsterdam offices in 2018 show, Concilium Search is a prime example of an ambitious firm that has a clear vision of how to grow as an expert in its field.
“Supporting Concilium Search on its growth journey, by providing it with the capacity to implement its strategic expansion plans, without impacting day-to-day cashflow is just one way we’re helping Britain prosper.”