The UK recruitment division of Sopra Steria has been bought by recruitment specialist Sanderson in a deal supported by Lloyds Bank Commercial Banking. As a result of the deal, Sopra Steria Recruitment Ltd joins several other businesses as part of Sanderson, which has 11 offices across the UK. The acquisition will boost Sanderson’s group revenue to in excess of £550 million as it combines the Sopra Steria Recruitment acquisition with continuing organic growth.
Sanderson is one of the fastest growing businesses in the UK recruitment sector, growing turnover by 44 per cent to £426 million in the year to June 2018. Its success saw it jump 46 places to 33rd on the latest Sunday Times Top Track 250.
“Acquiring Sopra Steria Recruitment provides us with an exceptional opportunity to build on the existing success and growth we’ve achieved in recent years,” said Martin Griffiths, group chairman at Sanderson. “Our intention is very much to continue developing the business as part of the wider group, which will add a new dimension to the services we are able to offer our clients.”
Sanderson has also recently secured a substantial shareholding in international recruitment consultancy, IKAS Global – an introduction that was facilitated by advisors at Lloyds Bank. The investment will provide Sanderson with a new platform to access markets in the Asia Pacific region.
Kim Collins, relationship director at Lloyds Bank Commercial Banking, said: “The recruitment sector continues to play a critical role in the success of UK plc, with businesses investing in workers in record numbers despite current economic uncertainty. The sector grew by 11 per cent to more than £35 billion last year, providing outstanding investment opportunities for ambitious organisations like Sanderson to capitalise on. We’re proud to be able to back those growth plans.”
Headquartered in Bristol, Sanderson was founded in 1975 and employs more than 300 people following the acquisition.