A Chepstow-headquartered recruitment firm is celebrating a landmark 12 months following a successful management buyout.
NuStaff, which also has offices in Cwmbran and Bridgend, has reported 92% growth in revenue and the early repayment of its Development Bank of Wales loan, six years ahead of schedule.
The MBO was completed last year and was supported and advised on by Cardiff-headquartered dealmaking business GS Verde Group.
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NuStaff’s growth has been driven by a series of strategic appointments, according to the firm, and the launch of several new service lines.
Dave Matthews, director of NuStaff, said: "When we completed the MBO, we had a clear vision to grow the business in a sustainable and ambitious way.
"To have achieved 92% growth in just 12 months and to repay our Development Bank of Wales loan six years early is something we are incredibly proud of.
"This is a testament to the dedication of our team, the trust of our clients, and the strong foundation the MBO gave us. We are grateful to GS Verde Group for their expertise and guidance throughout the deal process.”
The Development Bank of Wales, which supported the MBO with funding, welcomed the early repayment, according to NuStaff.
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"The early payoff marks a significant achievement in the company’s growth journey and underscores the success of the MBO model in enabling Welsh businesses to scale sustainably," the company said in a statement.
NuStaff’s added that it has further expansion and strategic investment planned in the coming months.