Optima Corporate Finance advises RZ Group on their sale to Outsource UK
Since 1998, RZ Group has been working with clients and candidates to place the best people within top UK companies. They assist clients with all recruitment needs and specialise in filling vacancies within the finance, IT, digital, oil and gas and engineering sectors, along with sales, marketing and other front and back office related roles.
Since founding the company in 1998, directors Andy Barton, David Bedford and Lisa Kwiecinska have grown RZ Group to £27m. Commenting on the acquisition, Andy said, “We are all extremely proud of the business we have built over the last 21 years. We would like to thank all of our staff, past and present that have contributed to our success. Outsource are an excellent business. It was clear from our initial meeting that they were a very strong match for us. The newly enlarged business offers huge opportunities for the future, with significantly more client offerings, a wider geographical spread and lots of development opportunities for the staff’ Following the sale, it has been confirmed that Andy and David will leave with immediate effect.
Philip Ellis, MD of Optima Corporate Finance stated, “I am delighted to have advised the RZ shareholders on this transaction. Having worked with them for many years, Andy and Dave thoroughly deserve to enjoy the value they have created in RZ and it is gratifying as an advisor to help clients achieve their desired outcome.”
Outsource UK was founded in 1996 by Paul Jameson. The company specialises in placing temporary and permanent talent with employers operating in technology, change and engineering. This acquisition will see the company move to operate out of seven locations nationwide, and increase headcount to well over 100.
Paul Jezzard, CFO of Outsource UK, stated, “This acquisition represents a significant step forward for our new enlarged group and will take us into the top 10 of IT staffing companies in the UK. Our combined turnover shall exceed £100m. This gives us the platform to continue to invest to realise our ambitious growth plans.”
Advising Recruitment Zone on the sale was Optima Corporate Finance. Legal advice was provided by Harper Macleod LLP.
Nick Dettmar, CEO of Outsource UK stated, “Andy, David and Lisa have built a successful business, which I am keen to develop by increasing our visibility in our mutual markets collectively. We have a talented team, with great experience and knowledge who will be instrumental in our combined future growth as we develop our relationships with new and existing clients, whilst strengthening our portfolio of candidates. I wish Andy and David well for the future and thank them for the part they have played in establishing and growing RZ Group.”