Niche recruiter pays back investors early

15 September 2004

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Leeds and London-based Directorbank has achieved its most impressive year of growth since it was set up seven years ago. With profits up 80% on 2003 and numbers of appointments up 33%, the company has paid off its long term loans three years early. Directorbank, the UK's leading recruiter of directors and non-executive directors for management buyout/buy-in deals, is now signed up by 50 venture capital houses paying annual retainer fees to have constant access to a database of some 2,500 immediately available and vetted directors. The most recent to sign up is the US private equity house Warburg Pincus. Private equity and venture capital backed companies employ 18% of Britain's private workforce with some Â£60bn funds invested. In the financial year ended 30 June 2004, 750 investment executives had access to the Directorbank service and carried out more than 14,000 searches to find directors to assist with deals. Sarah GrÃ¼newald joined the business two years ago and has spearheaded a new division providing non-executives for public companies. Companies which have filled positions using Directorbank's innovative approach include Centerparcs, Cattles, Marshalls, Genus and Homestyle. Directorbank now has a team of 14 people based in Leeds and London offices and also runs events for deal-makers to meet potential directors in seven cities across the UK.