October 11, 2017 – Acquisitions continue to make news in the executive search industry. In one of the latest, London-based search firm Harvey Nash has acquired Crimson Limited.
Crimson, founded in 2000, is a U.K.-based IT solutions and recruitment company that specializes in digital and technology transformation solutions as well as offering a full range of IT recruitment services.
Under the terms of the acquisition, Harvey Nash Group will receive 100 percent of the shares in Crimson for an initial cash consideration of £6 million, plus an adjustment for working capital on completion (expected to result in a payment of no more than £100,000). Of the three shareholder directors, Robert Mallaband and Simon Chave will continue as CEO and CIO of Crimson respectively, remaining with the business along with the current management team, post-acquisition.
“I am delighted to welcome the team from Crimson into the group,” said Albert Ellis, CEO of Harvey Nash Group. “This is a transformative acquisition firmly establishing the group’s business as the leading full service technology talent provider in the U.K.’s IT and digital sectors. The announcement demonstrates our commitment to executing our stated strategy of delivering growth, both organically and through acquisitions.”
Mr. Mallaband expressed excitement at the possibilities the acquisition provides. “Harvey Nash is well established with a unique portfolio of services and strong brand, and was the obvious choice when we were seeking a strategic partner to support us as we accelerate our own growth,” he said. “I am delighted that Crimson is now part of the Harvey Nash Group and am confident that substantial success and opportunity lies ahead now that we have the backing and support of a much larger group with a global footprint.”
Recent Search Firm Acquisitions
Executive search firms have seen a rise in acquisitions this year. Activity, in fact, seems heightened across the board:
The Tolan Group, a member of the Sanford Rose Associates network, recently acquired Charleston, SC-based Discover Biopharmaceutical Search and Placement, a boutique search firm dedicated to the biopharmaceutical field. Financial terms of the deal were undisclosed. The transition is effective immediately.
Heidrick & Struggles recently entered into an agreement to acquire Amrop Denmark. The deal is estimated at $8.4 million, according to a filing with the U.S. Securities and Exchange Commission. All five Amrop Denmark partners are expected to join Heidricks’ Copenhagen office as partners.
London-based executive recruitment firm Sheffield Haworth acquired nbi Consulting, a specialist global executive search and talent management firm in the business and professional services sector. As part of the acquisition, nbi will become part of Sheffield Haworth’s global business and professional services practice.
DHR International has acquired boutique executive search firm COOPER+LOGAN. With the addition of two new managing partners, the acquisition strengthens DHR’s retail/fashion industry and functional expertise. COOPER+LOGAN, founded in 2008, specializes in the selection of senior-level design, merchandising and creative services candidates for “brand-centric” clients.
Global recruiter Ward Howell International has acquired Curran Partners, a Stamford, CT-based executive search firm with a concentration in the life sciences, among other sectors it serves. Founded in 1989, Curran Partners became the U.S. member of ECI Group, an international network, in 2003.
Global financial recruiting specialist Options Group acquired MCL Search Ltd., an executive search firm based in London specializing in electronic markets (trading and distribution), prime brokerage/clearing and financial trading technology with a focus on currencies and fixed income.
Focus Search Partners (FSP), the executive search division of talent solutions provider Vaco, has acquired the Dallas, TX-based recruiters Taylor Winfield. With the acquisition, FSP gains a team of professionals with enterprise operating experience across industries including Internet/ digital media, technology/ SaaS software, consumer/retail/food service and business services.
ZRG Partners acquired life sciences specialist HM Long Global Partners. As part of the asset acquisition agreement, Helga Long, formerly the chair and CEO of HM Long/RSVP Group, joined ZRG Partners. Ms. Long is considered one of the world’s top executive search professionals in life sciences.
Jordan Search Consultants, a recruiting firm focused on the healthcare, executive and higher education sectors, acquired Health Search New England (HSNE), a search firm specializing in the recruitment of healthcare providers throughout the Northeast. Financial terms of the deal were undisclosed.
Acertitude acquired Los Angeles-based Olive Avenue Search Partners. Olive Avenue’s founders, Gwen Sabo and Joann Maciejewski, bring deep expertise in the development of research capabilities, training and development, and identifying and engaging top talent. Financial terms of the deal were not disclosed.
Ohio-headquartered Torch Group acquired Selker Leadership, a search firm that places candidates in the technology and software fields. Selker Leadership’s president, Gregory L. Selker, will join Torch Group as senior vice president and search operations leader, overseeing the firm’s search practice, including research and candidate development.
Buffkin/ Baker recently merged New York-based WTW Associates into its expanding executive recruiting platform. WTW, a talent provider focused on the media, entertainment, technology and law industries, will integrate its operations into the Buffkin/ Baker New York office. Warren Wasp becomes a partner in the firm, and will head its entertainment/ media practice.
U.K.-based Hydrogen Group acquired Argyll Scott for £3.3 million. Together, the combined firms will deliver recruitment services across multiple functions, industries and countries. The acquisition allows Hydrogen to accelerate international growth plans and benefit from greater strength and depth in the London market.
Walter James recently acquired Euromedica Executive Search Limited. Walter James operates in the life sciences sector with a focus on global enabling units. The acquisition positions the firm to offer end-to-end specialist service across the entire life sciences value chain. Financial terms of the deal were not disclosed.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; Stephen Sawicki, Managing Editor; and Will Schatz, Managing Editor – Hunt Scanlon Media