Metric Search Secures Multi-Million BGF Investment to Drive U.S. Growth
July 22, 2024 – Specialist recruitment company Metric Search has secured a multi-million-pound investment from BGF, one of the largest growth capital investors in the U.K. and Ireland. “Metric has achieved remarkable success in a short amount of time, and is well placed to capitalize on the dynamic, growing U.S. recruitment market through its high quality, specialist service,” said BGF investor Adam Huckerby, who will join the Metric board. “This is a great example of how BGF can support ambitious, high performing teams to fulfil their plans. We look forward to working with Joe and the team with the next phase of accelerated growth.”
Founded in 2019 by Joe Jani (CEO) in New York, Metric Search has built a reputation as a search partner, sourcing skilled, technical talent in the life sciences and energy/infrastructure sectors. With its headquarters in Nottingham, the firm has offices in New York, London, and Florida.
The funding from BGF will allow Metric to further extend its footprint in the U.S. recruitment market, which is worth an estimated $216 billion, by expanding its offering into dedicated executive search, contract recruitment, and further niche specialisms.
“Our global footprint has enabled us to successfully grow in the U.S. market, whilst building a world leading headquarters in our home city of Nottingham,” said Mr. Jani. “From there, we have developed a compelling proposition in high growth, well capitalized sectors that have an excellent outlook, servicing clients that are at the forefront of cutting-edge technology and innovation and range from SMEs to blue-chip companies.”
“The U.S. recruitment market as a whole has vast potential and will play a crucial role in helping us to accelerate our growth ambitions – both geographically and from a sector perspective,” Mr. Jani said. “In BGF we have an aligned investment partner which has the experience, network and approach to help us achieve our exciting plans and we’re delighted to be partnering with them.”
The deal was led by Adam Huckerby, Sam Giurani and Seb Saywood, investors in BGF’s Midlands team. Andy McCrae – part of BGF’s talent network – is joining as non-executive chair (NXC). He brings a wealth of industry experience from the companies such as Phaidon International, Oliver James and SR Group, having previously worked with a range of PE-backed businesses and entrepreneurs. In addition, John Joe Walker has been appointed as chief commercial officer, alongside continued support from Zac Flint as finance director.
Cowgills advised management on the deal. James Kennedy, partner in the deal advisory team, said: “We are very pleased to support Metric in securing an investment from BGF. The high performing Metric team are great to work with and I wish them every future success as they continue their impressive momentum in the U.S.”
BGF was set up in 2011 and has invested £4 billion in over 560 companies, making it the most active investor in the U.K. It is a minority, non-controlling equity partner with a patient outlook on investments, based on shared long-term goals with the management teams it backs. BGF invests in growing businesses in the U.K. and Ireland through its network of 15 offices.
Investment Funding
Investors are pouring money into recruiting solutions businesses, especially executive search firms. Here’s a look at some other recent funding deals secured by these companies from the Hunt Scanlon Media archives:
ZRG, a global talent advisory firm and portfolio company of RFE Investment Partners, has secured $120 million in debt financing from Main Street Capital Corporation and its affiliates. “This significant funding will bolster ZRG’s growth initiatives and enhance its ability to deliver innovative talent solutions to clients worldwide,” the firm said. “It is a great time to acquire niche talent advisory and management businesses and build out our capabilities across executive search, interim, RPO, and consulting,” said Larry Hartmann, CEO of ZRG. “This additional financing from Main Street Capital, combined with our recent equity raise with a consortium of investors, positions us strongly to achieve our strategic objectives.” This latest round of financing will play a crucial role in supporting ZRG’s ongoing growth strategy. The firm plans to use the capital to continue acquiring high-quality businesses that complement its existing capabilities and continue to hire senior talent to drive further growth.
Fort Lee, NJ-based Stevenson Search Partners, a global life science executive search firm and a Hunt Scanlon Top 50 ranked search firm, has received a significant long-term investment from SixSibs Capital, a Milwaukee-based family-owned private investment company, in an effort to advance its expansion into a total talent solution company for the global life sciences market. The amount of the investment was not disclosed. “Stevenson’s long-term focus on quality, culture, diversity and partnership has been our driving force in providing leading-edge talent and services to our partners across the globe,” said Adam Bloom, president of Stevenson Search Partners. “We are thrilled with the opportunity to build on our foundation and grow our business with the support and collaboration of SixSibs Capital. Our ability to scale our capabilities is an important next step in our commitment to supporting the remarkable life science professionals who are dedicated to advancing medicines and improving lives.”
Related: Bullhorn Ventures Makes Investment in Staffing Engine
Contributed by Scott A. Scanlon, Editor-in-Chief and Dale M. Zupsansky, Executive Editor – Hunt Scanlon Media
