A Derby rail recruitment and performance specialist has said it is on track for further growth following the completion of a management buyout.
Ford & Stanley, which is based on Pride Park, has been bought by its management team in a seven-figure deal backed by Allied Irish Bank (GB).
Founded a decade ago, the firm, which also has offices in Birmingham and London, specialises in the rail, mechanical engineering and digital sectors.
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It has an annual turnover of more than £10 million and currently 30 employees across its divisions: Ford & Stanley Recruitment, Talentwise and GENIUS Performance. The company’s client base spans rail, digital, infrastructure and sports sectors.
Founded by Peter and Kate Schofield, who will continue to play a meaningful role within the business, the management buyout team comprises Chris Jones, Dan Taylor, Sam Ford and Eoin Grindley.
Mr Schofield said: “The management team will provide energy and focus for the group’s recruiting business, allowing me to concentrate my energies on the performance, mental health and leadership side of the business with GENIUS Performance.
“I’m delighted at the way everyone worked together to make this happen and would like to specifically acknowledge the contribution of Andy Delve of Smith Cooper for his guidance and advice over the past 25 years in helping us reach this point.”
Dale Cowdell is relationship manager at Allied Irish Bank (GB) in Nottingham, which has provided debt funding for the management buyout and working capital facilities.
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He said: “In the last three years sales at Ford & Stanley have grown by 300% and the business’s continued emphasis on providing high quality recruitment services, combined with its diversification into complementary arenas such as training, occupational mental wellbeing and performance support, are certainly bearing fruit.
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“Chris, Dan, Sam and Eoin are exemplars of the strong management teams we seek out in the businesses we back and we look forward to working with them as they take the business forward to the next stage of growth.”
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Eoin said: “We chose Allied Irish Bank (GB) because of their willingness to be a real business partner in the next phase of Ford & Stanley’s growth.”
Allied Irish Bank (GB) was introduced to Ford & Stanley by Neil Wade of Independent Banking Professionals in Nottingham.
Fraser Brown provided legal advice to the bank, with the vendors advised by Simon Davers of Geldards and the management team advised by Fraser Cunningham and Mark Wilcock of Smith Partnership.