Dow Schofield Watts Transaction Services in Leeds provided due diligence to Yorkshire-based Nicholas Associates Group and RBS on the latest acquisition for the group; Ashley Kate HR, a specialist HR recruitment company, for an undisclosed seven figure sum.
The acquisition is the second in six weeks for the Nicholas Associates group, and follows a deal to buy XL Graduate Placement in November. Supported by RBS and RBSIF, the acquisition is part of an eight figure refinancing that will underpin the expansion and diversification of the group.
Lisa Gainsford, the Rotherham-based Nicholas Associates Group’s chief executive, said: “The acquisition of Ashley Kate HR is an essential step in diversifying our group into specialist HR recruitment.
“The company has an exceptionally strong brand and online social media presence, robust financial performance and a niche specialism that complements our other professional arms of engineering, finance and executive recruitment.
“We are delighted the vendors have given our group the opportunity to take their business to the next level.”
The Dow Schofield Watts Transaction Services partner, Rob McCarthy who led the diligence, said: “The transaction demonstrates another step forward for Nicholas Associates, executing on their growth strategy. We were pleased to support the strong internal deal team on this opportunity.”