Foresight invests £2m in QS Recruitment

Foresight invested via its Foresight Nottingham fund to support the deal. The capital will be used to continue the company's geographical expansion and to increase its healthcare offering.

Debt for the deal was provided by RBS, consisting of a term loan and invoice-discounting facility.

Company
QS Recruitment provides recruitment services to business in the East Midlands and South Yorkshire. The business started out as a specialist supplier of HGV drivers and has since expanded its offering to provide services to clients and job seekers in the driving, industrial, engineering, catering, office and care sectors.

The company has offices in Nottingham, Burton, Lincoln, Derby and Worksop. QS Recruitment generates revenues of £8m.

People
QS Recruitment sales director and managing-director-designate Peter Gillespie led the deal to become a shareholder in the business alongside Brian Smith and Kevin Gray. Alan Dickinson, formerly managing director of Michael Page UK, has joined the business as chairperson, while Tony Daly has joined as finance director.

Sebastian Saywood of Foresight joined the company's board as part of the transaction.

Stuart Wilson is director of corporate transactions at RBS.

Advisers
Equity – Austin Moore Law (Legal); Mazars (Financial due diligence); Fraser Brown (Legal); Flint Bishop (Legal); Actons (Legal); Eastwood Anglo Corporate Finance (Corporate finance); Smith Cooper (Financial due diligence); Neovain Partners (Commercial due diligence).

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