Cordant acquires Sugarman Group
Sugarman becomes the seventh recruitment brand in Cordant’s stable. The buy is the first of several planned acquisitions by Cordant Group over the next couple of years, a company statement says, as the business expands further into new vertical markets.
Sugarman will continue to operate as normal under the leadership of Tim Wheeler, managing director of the Sugarman Group.
Phillip Ullmann, chief executive officer of Cordant Group, says: “Sugarman’s culture and people are a great match for the business and will add real strength to our operate offerings and growing success.”
A team at mid-market advisory firm Clearwater Corporate Finance, led by partner Marcus Archer, deal leader Natasha Price and analyst Mike So, advised Sugarman Group on the deal.
As well as the addition of Sugarman, Cordant comprises recruitment brands Prime Time Recruitment, Premiere People, PMP Recruitment, Abacus Recruitment, Grosvenor Boston and Judy Fisher Associates, recruiting across a range of industries including industrial, warehousing and logistics, social care, sales, executive search, oil & gas, engineering and technical, and food and retail.
The acquisition comes following last summer's appointment of former managing director of Adecco UK Steven Kirkpatrick, as CEO of Cordant Group’s recruitment business division, a role he actually took up on 27 Jan.
Deloitte advised Cordant Group on its acquisition. Deloitte's team, led by Katie Folwell-Davies, has advised the family-owned business on seven of its acquisitions and looks forward to supporting Steven Kirkpatrick as newly appointed CEO of its recruitment division.
Folwell-Davies comments: “Sugarman Group is a fantastic platform for Cordant to grow the specialist recruitment areas of education, healthcare and social care recruitment. Having looked at a number of targets, Sugarman has the right combination of scale, quality and a truly dynamic management team. The Cordant infrastructure and strong family values will support Tim Wheeler, Sugarman CEO, deliver his future plans for the business.”
