Square One Law advises FlexPlus on sale of their business
The $800m turnover technology, staffing and consulting services firm Corporate Resource Service inc., (CRS) has acquired Flex Recruitment Plus Limited (FlexPlus) based in Hinckley, Leicestershire.
FlexPlus is a national staffing and technology business specialising in the placement of temporary, contract and permanent candidates into the logistics, fulfilment, warehousing and retail sectors.
Following the successful completion of the sale to CRS, the founders and shareholders of FlexPlus will remain with the business and will be working alongside CRS to help strengthen and deliver FlexPlus’ service capabilities to new and existing clients.
Mark S. Levine, chief operating officer for CRS said: “We are very excited with the addition of FlexPlus to our team. This acquisition will act as our platform company in Europe and we will be utilising the existing management team at FlexPlus to build our European business both organically and through acquisitions.”
James Bryce, corporate partner at Square One Law said of the deal: “Having worked with the management team at FlexPlus over a number of years it was great to be part of the team delivering this transaction, which represents a fantastic opportunity for both the management of FlexPlus and for CRS to build the UK business.”
James and the corporate team worked closely with Ryecroft Glenton Corporate Finance (RGCF) to complete the transaction. Carl Swansbury director of RGCF was central to the deal having identified FlexPlus as a suitable acquisition target for CRS.
Carl said: “This is a great transaction to have advised on – one which has resulted in one of America’s largest technology and staffing companies acquiring a privately owned business here in the UK.”
Adrian Hobbs, Flex Plus’ managing director said: “The strategic and cultural fit of Flex Plus and CRS is ideal. We have grown Flex Plus considerably and profitably over recent years, and believe that the future growth of the business is best achieved in partnership with a larger business that can help us diversify into new locations and sectors.
“Carl Swansbury and his team at RGCF, along with James Bryce and his team from Square One Law LLP have worked tirelessly throughout the entire transaction to ensure our objectives have been achieved. They have been central to this deal, and have proved to be invaluable team members.”