December 20, 2019 @ 7:00 by Steven Hugill
A recruitment organisation has been bought by a fellow market operator.
Northern Recruitment Group (NRG) has been acquired by Galago Group.
Bosses say the deal will see Newcastle’s NRG and its recruitment processing outsourcing (RPO) service greenbean become an integral part of London-based Galago alongside its existing portfolio of staffing businesses.
NRG is a staffing business that specialises in executive search and selection and the provision of temporary, contract and permanent recruitment services.
It launched greenbean in 2017 to provide a full-service RPO, which can be integrated into clients’ operations to support business growth and help deliver efficient and effective recruitment activity.
Following the acquisition, Galago will work closely with NRG’s existing senior management team, led by chief executive Therese Liddle, to support the continued growth of the business alongside its other subsidiaries.
Lorna Moran (pictured), founder and chairman of NRG, said: “I am exceptionally proud of what we have achieved over my 43 years at NRG through the outstanding work of our dedicated and talented team.
“Galago shares a lot of our values and strategic approach to recruitment that will support the further growth of both the NRG and greenbean brands.”
Marc Stiff, managing director of Galago Group, added: “NRG is a highly respected and established business, which, together with the addition of greenbean RPO, presents an exciting opportunity to enhance value to our clients through a full-service national offering.”
The shareholders of NRG were advised by Newcastle-based RGCF, led by partner and head of corporate finance Carl Swansbury.
Legal advice to shareholders was provided by Ward Hadaway.
Galago Group was advised by Castle Corporate Finance, led by managing director Stuart Stepney. Financial due diligence was provided by RSM, with legal advice coming from Gateley Legal.
“NRG is one of the North East’s most recognised and regarded recruitment companies with a great heritage and positive future,” said Carl Swansbury.
“Lorna and the team have established a magnificent business that will be a valuable addition to Galago and help deliver the next stage of growth for both organisations.
“Therese Liddle and the existing management team are exceptionally experienced with more than 30 years combined expertise in the staffing sector, which will be of significant benefit to Galago’s strategic objectives while providing continuity to the businesses’ extensive client base.”