Endless sells Affinity Workforce to Castlerock Recruitment

The transaction forms part of Castlerock's wider consolidation strategy and comes eight months after it bolted on healthcare and social care specialist HCL.

Following the latest deal, the consolidated business will generate a turnover of £230m and have a headcount of 600, according to a statement.

Previous funding
Endless acquired Affinity (then the recruitment arm of FTSE 250 outsourcing group Capita) in June 2017 in a deal reportedly valued at £25m.

Company
Founded in 1992, London-headquartered Affinity Workforce is a recruitment business focusing on the public education, healthcare and social care sectors. The group comprises the CER, Monarch Education, Medicare First and Team24 brands. It has a headcount of around 400 and generates a turnover of £100m, according to a statement, down from 450 and £140m respectively in 2016.

Advisers
Vendor – Deloitte, Katie Folwell-Davies (corporate finance); Osborne Clarke, Tim Hewens, Max Millington (legal); PwC, Mike Seaton (tax).
Acquirer – FRP Advisory, Rob McCarthy (corporate finance); Hemingway's Solicitors, Chris King (legal).

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• Topics
• Exits
• UK / Ireland
• Support services
• United Kingdom
• Endless
• Trade sale
• Deloitte
• PwC
• Osborne Clarke