Unite People, the Leeds-based civil engineering industry-focused recruiter, is building for growth following the completion of a Management Buyout (MBO), which will support the business’ scale-up ambitions.
Founding director and 50 percent shareholder, Ross Bayston, has acquired the shareholding of fellow director Tom Perkin, to become the sole owner of the business.
The MBO has been funded by Aldermore Bank, who provided Unite People with a seven-figure funding package to support the MBO, along with the funding needed to scale the business over the medium term. Tom will exit the business to pursue other opportunities outside Unite People’s current areas of focus.
Established in December 2016, Unite People has secured a niche within the civil engineering sector, becoming one of the most recognised brands in the industry and its associated sectors.
The business provides both contract and permanent staff across the UK and has enjoyed continued growth over recent years.
Providing Ross with corporate finance and funding advice on his MBO of Unite People was Newcastle-based RG Corporate Finance, led by partner and Head of Corporate Finance, Carl Swansbury, supported by CF Executive Adam Tindale.
Legal advice to the MBO team was provided by Hill Dickinson with tax advice from Barnes Roffe.
Ross Bayston, CEO of Unite People, said: “Completing the MBO and being supported by Aldermore will enable the business to expedite its growth plans, whilst strengthening relationships with our client base. I strongly believe there’s a unique opportunity for Unite People to become the most recognised staffing firm within the civil engineering sector, in the UK and internationally.
“Tom and I have worked exceptionally hard to create a business that has set itself apart from other recruiters in the construction related industries and the company is now in a strong position to scale up further. I wish Tom well in his future endeavours and thank him for his dedication and contribution to our business.”
Carl Swansbury, Partner and Head of Corporate Finance at RGCF, said: “Unite People is a very forward-thinking staffing business with a strong personal approach to doing business, which has been well received in the construction sector. It is now in an ideal position to expand further and increase its national footprint. Working closely with Ross we identified and secured a proactive and supportive funder in Aldermore, which will help the business deliver upon its scale-up strategy and enhance its activity in its key markets.”
