Equistone-backed Fircroft announces strategic alignment with NES

Equistone-backed Fircroft announces strategic alignment with NES

23 Sep 2020

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 Wright at Deloitte (financial due diligence) and Seema Ahmedabadi PwC (tax) advised Fircroft Group on the transaction.

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