Founder Buys Back Company
Brownlee Dean founder completes share buy-back to support strategic growth
The founder of Newcastle-based specialist recruiter Brownlee Dean has completed a share buy-back to support the company’s strategic growth ambitions.
Peter Walker has acquired 17 per cent of Brownlee Dean shares from two minority institutional investors that helped establish the start-up business in 2018. He launched the business after more than decade in the recruitment sector, placing high quality candidates in the UK and international civil engineering and construction industries.
Following the completion of the buy-back from founding investors Isotope and SSG, Peter has secured 100 per cent ownership of the business, which supports clients in the construction, civil engineering and renewable energy sectors.
Through its relationship-based business model, Brownlee Dean has built an established customer base, placing professionals in both temporary and permanent positions ranging from senior executives to project-based roles. It has seen turnover quadruple in the past year, achieving revenue of £2.1m in FY20.
Currently employing five staff from its offices in the North East, the firm, which supports clients nationally, is aiming to increase its headcount by a further six in the next 12 months as it builds on its strategy to increase its presence in key sectors.
Peter was advised by Newcastle-based RG Corporate Finance (RGCF), led by CF Partner and Head of Corporate Finance Carl Swansbury and CF Manager Connor McBride, with legal advice from Associate Solicitor Peter Millican from Pepperells’ Newcastle office.
“We have enjoyed a positive start to the business, and the growth support of Isotope and SSG was vital in the first few years,” said Walker. “We are now establishing a niche in our marketplace and are ready to move our strategy from start-up to scale-up, which following the completion of the share buy-back I am keen to deliver.
“Our relationship-driven approach to our business has been well-received in the construction and civil engineering sectors and we are confident that we can gain a larger share of the market.”
Connor McBride, CF manager at RGCF, said: “Peter’s enthusiasm for the business and his industry has enabled Brownlee Dean to really take off, even during the challenging past year during the pandemic. This is the start of an exciting next chapter for the business, which I am sure has a very successful future ahead of it.”