October 2, 2018 – London-based recruitment firm Harvey Nash named Sean Gilligan as president of its technology recruitment division for North America. For the past 18 months, Mr. Gilligan has taken on a more strategic role within the operations of the technology recruitment segment, leading the growth in Harvey Nash’s technology recruitment business across North America.
“In a tight labor market, where the war for talent is challenging for small and large companies alike, Sean is the perfect choice to lead our North American recruiting business,” said Albert Ellis, CEO of Harvey Nash Group. “He has been building and delivering some of Harvey Nash’s most creative client solutions since he came on board.”
“Sean will work with the U.S. market directors to deliver the talent our clients need, whether it is enterprise-wide or specialized, individual skills, and lead day-to-day operations,” Mr. Ellis said. “We are excited to have Sean on board to drive this part of the Harvey Nash business.”
Mr. Gilligan started as a recruiter in the firm’s New Jersey office 10 years ago, and has held multiple roles in the organization. He was instrumental in launching Harvey Nash’s innovative “Enterprise Talent Delivery Model,” providing rare quality technology skills in higher volumes with increased speed to market. The model has led to numerous accolades from partners, including being recognized as a premier partner and for outstanding performance.
Mr. Gilligan joins the U.S.-based leadership team of Anna Frazzetto, president of the IT outsourcing division, Alistair Robinson, president of leadership services, and Ted Blumenberg, chief financial officer, North America.
With staff in more than 40 offices across Europe, Asia and the U.S., Harvey Nash provides executive search & leadership services, professional recruitment and outsourcing services to an array of industries.
This summer, The Power of Talent Ltd (Bidco), an entity owned and controlled by investment funds managed by DBAY Advisors, made a £98.7 million bid to acquire London-based recruitment firm Harvey Nash. The deal is waiting be approved by 75 percent of the firm’s shareholders to be finalized.
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DBAY already owns 26.1 percent of Harvey Nash after taking a significant stake in the group last year. DBAY said Harvey Nash is better suited for a private company environment, which would eliminate regulatory burdens and constraints and costs of maintaining a public listing. According to sources, the recruiting firm said the offer is in the best interests of its shareholders, staff and clients. DBAY offers stability and has stated it intends to support employees and invest in the business, Harvey Nash said.
“Harvey Nash’s acquisition strategy and successful transformation program has resulted in significant shareholder value being created over the past two years,” said Julie Baddeley, chairman of Harvey Nash. “While the independent Harvey Nash directors believe Harvey Nash would have a strong future as an independent listed company, they consider that the offer, which is wholly in cash, represents attractive value and is in the best interests of Harvey Nash shareholders, staff and clients.”
David Morrison, investment director of DBAY, said his firm was pleased to have reached agreement with the Independent Harvey Nash directors. “We know the Harvey Nash business well having been significant investors since February 2017 and are delighted to have the opportunity to partner with the Harvey Nash management team and employees to further strengthen its leading position in the specialist technology recruitment and outsourcing markets,” he said.
Last year, Harvey Nash posted revenue of £889.3 million. Following news of the deal, Harvey Nash shares traded at £130.05, up 16 percent on the day and 1.48 percent below its 52-week high of 132.00, set last month. Based on its current share price the company has a market value of £81.90 million.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; Stephen Sawicki, Managing Editor; and Andrew W. Mitchell, Managing Editor – Hunt Scanlon Media