BGF injects £2.5m into Rethink

BGF expects to provide further capital to Rethink in future to support both organic growth and other bolt-ons. Several potential targets have already been identified, according to the investor.

BGF believes the acquisition will extend Rethink's talent management offering, enabling it to provide Consort's services to its own clients, while also allowing it to offer its own services to Consort's client base.

Company
Founded in 2005, Rethink specialises in recruitment and talent management services. These include: employer branding; talent pooling and management; performance management; and recruitment process outsourcing. Rethink floated on the London Stock Exchange in 2008 before delisting in 2014.

Headquartered in London, Consort offers similar services, with a particular focus on the financial services and retail sectors. The enlarged group is expected to post a £130m turnover and employ 200 people.

People
Joe Wilson, Mark Nunny and Alistair Brew worked on the deal for BGF. Wilson will join Rethink's board as non-executive director.

Advisers
Equity – Colley (Legal); BDO (Financial due diligence).
Company – Osborne Clarke (Legal); BDO (Tax).

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• Topics
• UK / Ireland
• Expansion
• Support services
• United Kingdom
• BGF (Business Growth Fund)
• Acquisition finance