Trust Tech takes majority stake in gap personnel

Japan-based staffing business Trust Tech has paid £20.1m for 75% of shares in UK recruitment agency gap personnel.

Trust Tech president Yukuta Nishda shakes hands with gap CEO Gary Dewhurst

Following the deal, gap personnel’s existing management team, led by Mark Roberts, who is also a shareholder in the business, will continue to lead the business and work closely alongside Trust Tech to support its growth strategy.

Commenting on the deal, Gary Dewhurst (above, third from right), CEO and founder of gap personnel, said the deal would enable the agency to accelerate expansion plans and identify and work with growing businesses that could be added to gap’s portfolio. The agency currently provides temporary and permanent staffing and training solutions across the fast moving consumer goods (FMCG), warehouse & logistics and manufacturing sectors across 39 UK locations.

Carl Swansbury, partner at Ryecroft Glenton Corporate Finance (supported by corporate finance manager Alex Simpson), advised gap personnel group on the deal. Tax advice was provided by Ryecroft Glenton’s Simon Hopwood and Charlie Burton. Legal advice was provided by Simon Herbert from Bevan Rose Solicitors.

Trust Tech was advised by PwC Advisory and Osborne Clarke.

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