Equistone Partners Europe-backed Fircroft Group merged with NES Global Talent. The deal creates a human capital services organization for engineering and technical talent globally called NES Fircroft led by Tig Gilliam. Equistone backed Fircroft in 2012 and since then completed a number of acquisitions around the world, including in the Middle East and Australia.
Fircroft Group, a leading technical recruitment business backed by Equistone Partners Europe (Equistone), has announced its integration with NES Global Talent (NES). The transaction will create one of the leading human capital solutions organisations for engineering and technical talent globally.
NES is a global leader in workforce solutions, providing staffing across the oil and gas, power, renewables, chemicals, life sciences and mining sectors worldwide. The firm has grown significantly in the last five years, both organically and through seven strategic acquisitions. It currently has over 66 offices in 33 countries, with more than 1,000 employees.
Warrington-based Fircroft was founded in 1970 to service oil and gas companies in the North Sea and today has a presence in 25 countries. Fircroft was backed by Equistone in 2012 and has since completed a number of acquisitions around the globe, including in the Middle East and Australia.
The transaction will create a group known as NES Fircroft, which will offer clients, contractors and consultants an extensive breadth, reach and depth of sector expertise, due to the combination of their complementary geographic footprints and industry specialisation.
NES Fircroft now has operations in 45 countries, offering clients a truly global solution for their engineering and technical resource requirements.
NES Fircroft will be led by Tig Gilliam (CEO). Johnathan Johnson will join the NES Executive team as Executive Director alongside Simon Coton (COO) and Stephen Buckley (CFO). Johnathan will join with the current NES Board Members to make up the new NES Fircroft Board. Equistone will remain fully invested as a minority shareholder in the combined NES Fircroft business.
Andi Tomkinson, Partner at Equistone Partners Europe, said: “This marks an exciting next step for Fircroft to become part of an enlarged group with NES and we look forward to continuing in our support of Johnathan and the management team on the next stage of the journey.”
Tig Gilliam, CEO of NES Global Talent, said: “I am so proud of what this NES team has accomplished over the last few years as we have grown and diversified our services and end markets. I am delighted to now welcome the Fircroft team to NES’s growing family. Offering the very best solutions for our clients and career opportunities for our contractors and consultants requires scale and deep expertise. Bringing the NES and Fircroft teams together delivers on these requirements and will further strengthen and support our values of service, client focus, compliance and safety.”
Johnathan Johnson, CEO of Fircroft, said: “This is a really exciting time in Fircroft’s history, to join forces with NES Global Talent and create a single, unified business to compete at the highest level. Our combined businesses will significantly extend our geographic footprint, strengthen our client and contractor network, increase our participation in key end markets and harness the specialist skills, knowledge and expertise of our combined teams.”
Andy Philips at DLA Piper (legal), Dan Wight at Deloitte (financial due diligence) and Seema Ahmedabadi PwC (tax) advised Fircroft Group on the transaction.
About Equistone Partners Europe Limited
Equistone is an independent investment firm wholly-owned and managed by its executives. The company is one of Europe’s leading investors in mid-market buyouts with a strong, consistent track record spanning over 40 years, with more than 400 transactions completed in this period. Equistone has a strong focus on change of ownership deals and aims to invest between €25m and €200m+ of equity in businesses with enterprise values of between €50m and €500m. The company has a team of over 40 investment professionals operating across France, Germany, the Netherlands, Switzerland and the UK, investing as a strategic partner alongside management teams. Equistone is currently investing its sixth buyout fund, which held a final closing at its €2.8bn hard cap in March 2018.
Equistone is authorised and regulated by the Financial Conduct Authority. Further information can be found at www.equistonepe.com.
About NES Global Talent
NES Global Talent (NES) is an award-winning workforce solutions specialist that provides staffing services across the Oil & Gas, Power & Renewables, Infrastructure, Life Sciences, Mining and Chemicals sectors worldwide. NES offer a full range of staffing solutions: Contract, Permanent (Direct) Hire, Managed Solutions and mobility services. It has over 66 offices in 33 countries and 1000+ employees across the globe. NES has grown exponentially in the last 5 years both organically and following 7 successful acquisitions of companies in both the Oil & Gas and Life Science space. In 2019 the company received 17 industry awards, winning recognition for every aspect of the business from Compliance and Payroll to the growth strategy and International operation. NES were also recently listed by Staffing Industry Analysts as the 3rd largest Engineering staffing provider in the world.
For more information visit nesgt.com.
Fircroft is a global technical and engineering workforce solutions provider spanning the Oil and Gas, Chemicals, ICT, Energy, Renewables, Mining, Automotive and Construction sectors. They offer a full range of staffing solutions: Contract, Permanent (Direct) hire, managed solutions including MSP, Recruitment Process Outsourcing (RPO), Global mobility services and global workforce consultancy. Through growth and diversification, the Fircroft Group has strengthened their offering, to serve global clients across the Oil and Gas, Chemicals, ICT, Energy, Renewables, Mining, Automotive and Construction sectors. Operating a network of over 60 offices, across 45 countries, Fircroft employs local experts who possess detailed knowledge of local regulations, legal systems, compliance and employment regulations.
For more information visit www.fircroft.com