DEAL ALERT: Spencer West team advise on Macildowie’s acquisition of Signet Resources
A multi-disciplinary team from Spencer West has advised recruitment and retention consultancy Macildowie on its acquisition of Signet Resources.
The law firm’s team supported Macildowie as they acquired 100% of the shareholding of Signet. Signet’s team, led by managing director Nicky Pusey and director Vanessa Pegg, will join Macildowie Group’s 75 strong workforce.
Founded in 2003, Maidenhead-based Signet Resources delivers permanent and interim recruitment & resourcing solutions in HR, marketing, accounting & finance and commercial operations.
Earlier this year, the Nottingham-based business announced its new approach to help employers retain and engage their valued members of staff, as well as finding and attracting the best talent, by becoming the UK’s first recruitment and retention consultancy.
Sonya Bassett the Corporate and Commercial Partner who led the Spencer West team, said:
“The client team worked really hard to get the deal done. It was clear to see how well Macildowie and Signet are going to work together in the future by the way they negotiated and handled the deal, so we focused on delivering what the client wanted by working as a unified team. This transaction relied on the art of collaboration right through the chain.”
Sonya was joined in advising Macildowie by her Spencer West colleagues Commercial Dispute Resolution and Employment Law Partner Jack Khurana, Tax specialist Euri Yoon, M&A focused Corporate and Commercial Partner Natalie Knight-Wickens and Commercial Real Estate Partner Matthew Scott-Tucker.
Commenting on the acquisition, James Taylor, CEO of Macildowie, explained:
“We are very excited by the acquisition of Signet. The culture, values and business practices of the two businesses are very closely aligned making us a great fit for one another. That was a huge factor in identifying Signet as the first acquisition for the expanded Macildowie group.
“’Building Great Futures’ is a key part of Macildowie’s vision. We believe that this acquisition will enable both companies to deliver an even greater breadth of service to their already loyal customers and clients, while also enhancing the long-term career opportunities of all of our employees.”
Macildowie chairman John O’Sullivan has known both businesses for many years. He said:
“Both Signet and Macildowie are part of the Elite Leaders recruitment network which I chair. When Macildowie started looking for a possible acquisition Signet sprang to mind immediately. I knew that the directors, Nicky, Vanessa, James and James would make an unbeatable executive team.
“They share the same passions for excellence and the wellbeing of their people. The fact that the operations of the two businesses fit like a glove made this a no-brainer”
Nicky Pusey, managing director of Signet Resources, added:
“Over the past 18 months Signet has grown significantly but we still felt that there was a lot more potential for the business. Having known John O’Sullivan for over 10 years when he approached us about a conversation with the Macildowie board we decided that we should explore the opportunity.
“It was critical to Vanessa and I that we work with a business that mirrored our values and passion for delivering exceptional service. We wanted to ensure that what makes Signet so special would remain intact, and we know that joining Macildowie will provide the strong leadership and a much bigger support function to enhance our offering for our staff and customers.”
Vanessa Pegg, director at Signet Resources, said:
“Macildowie has a long-standing and well-respected heritage in the recruitment sector and, after meeting with James Taylor and James Stewart, their passion and expertise shone through. These characteristics will undoubtedly help us to build on the success our team has delivered. We’re delighted to join Macildowie and look forward to working closely with the whole team.”