EXIT: PMP Recruitment
Twenty20 Capital signs agreement to transfer ownership of high volume business, PMP Recruitment
Private equity firm Twenty20 Capital has announced the signing of a deal to transfer ownership of its high volume recruitment asset, PMP Recruitment to Challenge-trg Group.
The deal reinforces Twenty20 Capital’s focus on creating value for shareholders whilst remaining well-positioned to support Cordant’s sub-brands: Cordant People, Premiere People and Staffgroup – building momentum through portfolio growth, increased customer wins and new vertical entry points.
Tristan Ramus, Twenty20 Capital’s Founder and Investment Principal, said: “We are delighted to announce the merger of two-sector giants; PMP Recruitment and Challenge-trg Group. After 18 months of considerable investment, the PMP Recruitment business has gone from strength to strength, making it a strategic acquisition for Challenge-trg Group, positioning them as the UK’s largest blue-collar labour provider.
“The collaborative move demonstrates our ability to identify the right partner at the right time ensuring ongoing success aligned to our own values. I am confident that Challenge-trg Group will propel PMP Recruitment’s capabilities offering industry-leading service to both clients and candidates.”
Cordant CEO Jamie Reynolds, who joins the Challenge-trg Group board to support long term client relationships, transitions and integrations said: “With the support of the Twenty20 board, we have built out and expanded the PMP Recruitment business. In pursuit of operational success, we’ve recognised that Challenge-trg Group is well-positioned to leverage the numerous growth opportunities linked to the brand and the sector it operates in.
Tom Cropper, Group CEO of Challenge-trg, said: “This is a really exciting time for Challenge-trg Group and PMP Recruitment. By coming together and pooling our resources and experience, we can offer our clients the ultimate service in our sector.
“As a business, our vision and values align – PMP Recruitment is a leader in establishing protocols in the abolishment of modern slavery and Challenge-trg Group has focussed on creating a work environment that develops and supports our employees. Through the combined passion for service and continual innovation and investment in technology and training provision, this merger is undoubtedly going to create opportunities for personnel and clients alike”.