MBO for £10.5m Bolton business

MBO for £10.5m Bolton business

Bolton-based recruitment business Euroforce People Solutions has undergone a management buyout, which sees Simon Hayton take on the role of managing director.

The business, established in 2006 by Patrick McBride, has a turnover in excess of £10.5m and specialises in supplying highly skilled labour into the furniture, textile and automotive sectors.

Simon Hayton said: "I was delighted to have the opportunity to complete this MBO of the business - I very much look forward to continuing to build on the recent historical success of the business."

Patrick McBride, who exits the business with other long standing directors, Liam McBride and Brian Assen, said: "We wish Simon the very best of luck and hope that the success we’ve enjoyed together continues as he implements his plans to grow the business further.

"I have every confidence that he’ll continue to do well."

Cowgill Holloway LLP and Mills & Reeve advised McBride and the team.

Paul Stringer, corporate finance partner at Cowgill Holloway LLP, advisor to the exiting shareholders added: "We were delighted to have been able to assist the shareholders in achieving their exit.  Having met Patrick and Euroforce People Solutions around three years ago, it was clear to see it was a good quality business with a strong team.  We are confident that Simon will continue to lead the business to greater success in the future."

Chris Ross, partner at Mills & Reeve added: "Euroforce People Solutions has grown into an industry leader under an excellent management team. The buyout will ensure its continued success and we wish Simon and the team all the best for the future."