Contracts: Baird invests in Nigel Wright
Baird Capital Partners Europe is buying a controlling interest in multi-sector recruiter Nigel Wright Group.
Baird Capital Partners Europe is buying a controlling interest in multi-sector recruiter Nigel Wright Group.
Headquartered in Newcastle, the group places sales, marketing and operations professionals into the consumer sector in the UK and internationally, with clients including Coca Cola, P&G, Diageo and Walt Disney.
Its other, UK-focused sectors include support and professional services, built environment, industrial & manufacturing, executive selection, and public and third sector.
Its international office network includes London, Stockholm, Copenhagen and Paris and services clients across a range of geographies in Western Europe, Asia, Africa and South America.
Various news reports put the sale price at about £15m, however a statement from Baird describes the investment amount as “undisclosed”.
Nigel Wright currently employs 100 people. The Baird statement said headcount is expected to increase by at least 20% next year. Nigel Wright, the eponymous chief executive and company founder, will continue in his role following Baird’s investment.
Wright was quoted as saying: “The business has grown significantly over recent years and we have now reached a stage where we will benefit from the involvement of a knowledgeable investor with a sizeable quality network within the sector.”
Wright went on to say that Baird’s support would help fuel the firm’s international growth.
The statement points out that the recruitment sector has been attracting “increasing investment” from private equity in recent months with slight improvements in the economy since the recession. Investments in 2010 include: Teaching Personnel, ICS and FDM. The mergers and acquisitions market has also been active in 2010.
