Wed, 6 Mar 2013Creative and marketing recruitment specialist Major Players has gone through a management buy-out as its founder Jack Gratton is joined by Helen Stokes, former group chief executive officer of recruiter Morgan Hunt, in purchasing the firm from parent company Randstad.

Stokes joins the firm in the role of managing director and Gratton takes on the role of CEO of the Major Players group.

Major Players was originally bought by recruitment group Vedior in 2007.

Gratton says: “This buy-back from Randstad is entirely amicable and simply makes sense for the business as a whole. Major Players has always remained a separate entity with a unique personality, and this move allows us to re-focus entirely on our market.”

Comments Tim Evans, MD of mergers & acquisitions advisers Boxington Corporate Finance, which produces Recruiter’s annual FAST 50 list of the UK's fastest-growing recruitment firms: “Major Players is a good example of a recruitment business that, because of the creative sector it serves and its own culture, has sat uneasily with its large corporate owner for some time.

“A return to independence will no doubt bring new and natural momentum to the business, and in a recruitment sector where there are positive pressures towards consolidation.”

A City analyst who follows Randstad, but who does not wish to be named tells Recruiter: “I don't think this tells us anything about Randstad's strategy. Major Players is a bit non-core for them and there are other areas they may want to pay more attention to at the moment.

“Randstad doesn't really have much else in this field. The creative perm market is not one that they have shown much interest in, or have invested in before, and therefore, the Major Players’ managers may feel it would be better if the company is owned by people who understand it a bit better and who are interested in investing in it.”

Major Players was positioned at number 99 in Recruiter’s 2012 HOT 100 list of the UK recruitment companies with the greatest gross profit per employee, sponsored by Microdec. With 70 staff, it achieved gross profit of £81,845 per employee and was one of four Randstad companies making the list – the others being Digby Morgan (41), Randstad Education (85) and Pareto Law (86).

A Major Players statement notes that no job losses have resulted from the MBO.

• See more news from Recruiter on the media and creative recruitment sectors, and staffing in marketing & sales, including February’s Sector Focus article.