Beijing Career International Co. Ltd. (BCI) has acquired the entire issued share capital of Investigo. As one of the UK’s leading privately-owned recruitment agencies, Investigo offers interim and permanent recruitment solutions to a diverse range of blue chip companies and SMEs across the UK, Europe and US. Founded in 2003, the Company focuses on professional services recruitment, employs a team of over 185 experienced consultants and has offices in London, Guildford, Milton Keynes, Oxford, St Albans and New York. In the year ended 31 December 2017, Investigo recorded turnover of £101.9m, net fee income of £21.6m and a profit of £5.2 million.
China-based BCI is principally engaged in the provision of high-end headhunting, recruitment process outsourcing, flexible labouring, marketing outsourcing, campus recruitment, training and recruitment consulting services, as well as other related solutions. It principally operates in the Mainland of China, Hong Kong, India, Singapore, Malaysia and other Asian regions. BCI is listed on the Shenzhen Stock Exchange.
Under the terms of the transaction, Investigo’s management, which took control of the business in a MBO in 2013 backed by Investec Bank plc, will retain a shareholding of 47.5 per cent in the Company. Investec, which provides equity and debt finance as well as corporate finance advisory services to mid-sized companies, will sell its entire holding to BCI. The financial terms of the transaction are not disclosed.
“Our MBO in 2013, which was backed by Investec, was a great success and provided the platform for us to not only reward and retain key people but also to attract the entrepreneurs to help fuel our future growth,” said Nick Baxter, CEO of Investigo. “This exciting new partnership with Beijing Career will allow Investigo to accelerate its growth in Europe, the US and Asia. We thank Investec for their support, counsel and guidance over the last four years and wish them every success for the future.”
James Stirling, Head of Growth & Acquisition Finance at Investec said: “Investec has helped an exciting young business along its growth path by providing debt and equity capital – in this case to effect the transition from Investigo’s founders to a new management team via a ‘succession MBO’, and to support its growth requirements. Since the MBO in 2013, the investment has been an unqualified success, enabling Investigo to grow rapidly in the UK and overseas. We are delighted to have supported Investigo through this vital stage in its growth trajectory, and wish Nick and the management team every success in the future.”