The SR Group Realigns European Operations, Closes German Offices Amid Market Challenges
April 30, 2025 – Global search company The SR Group has realigned its European offering to service mainland Europe from its Amsterdam and London offices. As a result, both Frankfurt and Düsseldorf offices will close, and premium services to the company’s clients in Germany will be delivered by specialist international teams.
The group’s German companies will formally enter into a solvent liquidation process on 1st May 2025, with careful management of the service transition for its client base. The SR Group launched its first brand, Brewer Morris in 1987, and has experienced global success over the past three and a half decades, with the launch of four further brands (Taylor Root, Frazer Jones, Carter Murray and Keller West), and offices across the U.K. and Europe, the Middle East, Asia, Australia and the U.S. As specialists in search and recruitment for tax, treasury, senior finance, legal, risk and compliance, marketing, sales, human resources and IT, the group supports a wide range of multinational and domestic clients with hiring into key corporate functions.
“Over the past few years, Germany has experienced significant disruption, and many key sectors have struggled to recover from the impact of widespread lockdowns, political turbulence, supply chain challenges and rising prices,” said David Buckley, CEO of The SR Group. “The economic forecast remains uncertain, and it is the group’s conclusion that these trading conditions do not favor a traditional bricks and mortar model. We have a proven track record of working with clients across Europe with an agile international team from other office locations, and we firmly believe we can deliver both value and service excellence through repositioning our European practice.”
“It is inevitable that we have had to restructure in Germany as a result of this shift, so, whilst we believe this is the right direction for our global business, it is not a decision we have made lightly,” Mr. Buckley said. “I am very grateful to our Düsseldorf and Frankfurt teams for their contribution to the business, and we are supporting them through this change. I am confident that we can continue to provide the highest level of service to our clients and candidates across the region.”
“These are challenging times for businesses everywhere, but we are confident this move is the right way forward for the group,” said Andrew McRae, chair of The SR Group. “This decision protects the long-term health of the business and ensures that The SR Group’s specialist teams are well-positioned to deliver into the right markets and to continue to provide quality service to our clients.’
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The SR Group is a global search and recruitment company comprising specialist search and recruitment consultancies Brewer Morris, Carter Murray, Frazer Jones, Keller West, and Taylor Root. Combined, its brands recruit across all the corporate functions including tax, treasury, senior finance, legal, risk, compliance, marketing, sales, and HR. The SR Group has placed more than 15,000 employees into some of the largest businesses across more than 55 markets.
Past Refinancing
In 2023, The SR Group announced a refinancing of the business supported by Eurazeo and longstanding private equity partner, Baird Capital. The funds raised as part of this refinancing have been used to repay founder shareholder and institutional debt and equity, the net result of which has been to position group management as majority shareholders in the business. Baird Capital will continue to be a significant shareholder in the business.
The SR Group has appointed Seim Munif as group chief financial officer. He succeeds Alex Calcutt who will step down to pursue other interests later this year. “Alex has been such an integral part of The SR Group’s success,” said David Buckley, CEO of The SR Group. “I feel privileged to have had his constant support and I am deeply grateful for his dedication over the past 24 years. Seim’s proven track record and strategic insight make him the ideal successor to lead our finance function into the future. We are excited to welcome Seim to the leadership team. The SR Group is confident that under Seim Munif’s financial stewardship, the company will continue to thrive and expand its global presence, delivering exceptional value to its clients and candidates.” Mr. Munif brings to The SR Group a wealth of experience in financial leadership, having held senior positions in prominent multinational corporations including 14 years in recruitment. He has expertise in financial strategy, corporate governance, and operational efficiency.
“Given strong performance and expansion over several years and with exciting plans for further growth and development, this is a fantastic opportunity to position the business for the future and to welcome more of our management group as shareholders,” said David Buckley, CEO of The SR Group. “This transaction, completed as it has been in challenging market conditions, would not have been possible without the continued support of Baird Capital and Eurazeo. Both have been incredibly supportive partners in the past and will continue to be in the future.”
“Baird Capital has enjoyed supporting The SR Group in achieving its ambitious growth plans and aspirations to date and we look forward to continuing to support David and the wider SR Group team going forwards,” said Dennis Hall, partner and global head of portfolio operations at Baird Capital.
Related: The SR Group Launches Keller West to Help Secure Senior IT Talent
Contributed by Scott A. Scanlon, Editor-in-Chief and Dale M. Zupsansky, Executive Editor – Hunt Scanlon Media
