InterQuest has outlined details of its joint venture with IT sales recruitment business Lanborne Consulting (see Recruiter news, 21 April), the first venture under its IQ Equity Programme.  

Under the terms of the joint venture, InterQuest will own 70% of the equity in Lanborne reducing to 60% on the achievement, by Lanborne, of certain performance targets.

Lanborne is an IT sales recruitment business based in Slough and currently employs six recruitment professionals. The Lanborne team also has experience of placing IT specialists into the NHS and public sector.

IQ Equity is the private equity division of InterQuest Group. Started in January, it aims to fund individuals or teams looking to start their own IT recruitment business.

Gary Ashworth, chairman of InterQuest, says: “We are delighted that Ian Pratt and his team are joining us in Lanborne Consulting which represents our first deal through IQ Equity. We look forward to building a strong business for the future.”

Lanborne’s Pratt says: “We are pleased to have joined the InterQuest Group and look forward to benefiting from their infrastructure and the expertise of their management team. The training and development of our staff is very important to us and this deal will give us invaluable access to InterQuest’s training academy.”