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Law firm advises on £22m investment

LAW firm Ward Hadaway has advised global specialist recruitment company Nigel Frank International on a £22m investment in the business by ISIS Equity Partners and HSBC Bank plc.

Corporate law experts from Ward Hadaway provided legal advice to the management team at Newcastle-based Nigel Frank International on the deal, which sees ISIS take a 35% stake in the company.

Nigel Frank specialises in recruiting permanent and temporary contract candidates into vacancies relating primarily to Microsoft Dynamics software.

The business was established in Newcastle upon Tyne in 2006 by Sean Wadsworth (CEO) and Nigel O’Donoghue (CFO), and since that time has rapidly grown to become the global leader in Microsoft Dynamics recruitment.

This position is underpinned by the specialist knowledge and strong relationships with candidates, clients and Microsoft that their 170 consultants have built up over the last few years.

In addition to the headquarters in Newcastle, the business has offices in London, New York, Singapore and Melbourne, with the latest office in San Francisco opening in 2013.

The investment will enable the business to continue its global expansion and to diversify into new markets through potential acquisitions and new offices in the US and Europe, the Middle East and Asia, as well as enable the management team to realise some of the value of the business they have built up over the last seven years.

Xavier Woodward, Shani Zindel and David Cotter led the deal on behalf of ISIS, with Xavier and Adam Holloway joining the Board. Stephen Ross, whose experience in the recruitment sector includes chair roles at Huntress Holdings Limited and NES Group Limited, will join the Board as Chairman.

Sean Wadsworth, CEO and Co-Founder, Nigel Frank International, said: “Nigel and I are delighted to be working in partnership with ISIS to drive the business forward over the next three to five years. With their unique blend of skills and belief in our strategy of rewarding our future business leaders we believe they are ideally positioned to support us as we look to open new territories and markets both by organic growth and acquisition.”

Ward Hadaway’s Head of Corporate Martin Hulls led the firm’s team providing legal advice to Nigel Frank International on the deal.

Martin said: “We are delighted to have assisted the team at Nigel Frank International on such an important transaction.

“In just seven years, the company has grown to become a true world leader in its field and this investment will help to expand its global footprint still further.”

Sean Wadsworth added: “We have been very impressed with Martin and the team at Ward Hadaway – they have done a great job and we would have no hesitation in recommending them.”

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