Moore Kingston Smith advises on MBO of beyond-profit sector recruitment agency
Moore Kingston Smith has advised on the acquisition of Prospectus in a management buyout. Prospectus is a specialist recruitment consultancy and recruitment advertising and design agency working exclusively with the beyond-profit sector.
With assistance from Marc Fecher and Kat Stone from the Moore Kingston Smith Corporate Finance team, the management team at Prospectus bought the company from the existing shareholder with backing from Santander. The selling shareholder, David Gold, has retained an interest in the business and will work as a consultant going forward.
Marc and Kat, supported by Moore Kingston Smith’s specialist corporate tax team, provided assistance with structuring the transaction, capital fundraising, valuing the business and negotiating the deal between the sellers and the new owners.
This is the second time Prospectus enlisted the help of Moore Kingston Smith, having received advice from our team on their original MBO in 2014. Prospectus appointed us to advise on this recent transaction because of our extensive experience in working with organisations in the not-for-profit and recruitment sectors.
Peter Beeby, CEO at Prospectus said: “Marc & Kat truly understood the importance of ensuring this transaction had no impact on our relationships and the unique culture we have here at Prospectus. The team provided invaluable advice, guidance and support particularly in respect of raising capital and structuring the deal.”
Marc added: “As a values-driven organisation, it was crucial that the culture and ethos remained in place after the change in ownership, and we’re delighted that this has been achieved. Prospectus is a great business and we’re pleased to have helped the management team complete this transaction. We wish them the very best for the future.”
Prospectus is a leading recruitment specialist in the beyond-profit sector, connecting candidates and organisations across the globe. The agency’s clients include some of the most widely-known not-for-profit organisations.
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