News
Cavendish announces the sale of Marks Sattin
21 February 2007Cavendish Corporate Finance is pleased to announce the sale of Marks Sattin to Greythorn for an undisclosed consideration.
Established in 1988, Marks Sattin has become one of the largest London-based recruiters in its target markets. Employing around 140 staff, it works with a wide-ranging client base that includes many of the FTSE 100 companies.
Backed by private equity house, Englefield Capital, Greythorn currently focuses on the IT, telecoms, finance and creative sectors and has offices on four continents in the UK, USA, Australia, Hong Kong and Singapore. Marks Sattin is Greythorn's second major acquisition to date.
Cavendish conducted a focused marketing exercise and assisted by its international partner network, M&A International, approached the leading domestic and international recruitment companies, generating interest from a number of potential purchasers. Cavendish competitively managed the resulting auction process and added significant value for the shareholders.
David Sattin, departing Vice Chairman and founder of Marks Sattin, commented: "I am delighted about the new opportunities on offer to Marks Sattin's people within Greythorn and the obvious synergy between the two organisations. Greythorn will be taking over what I consider to be one of the top management and consulting teams in the industry.
Cavendish made full use of their very strong international network to identify Greythorn and create competitive tension throughout the process and drive the sale to completion. I am delighted by the service we received and the excellent result achieved for the shareholders and also the employees of Marks Sattin."
Cavendish contacts for further information:
[Min Luk], Director - Business Services
[Hugo Haddon-Grant], Managing Director