Networkers International has secured the recommendation of MSB International’s board for a cash offer for the company of £14.97m.

The Networkers deal tops a previous offer for MSB by Keyman Personnel, run by Bryan Lloyd and Peter Flaherty of the Recruitment Investment Group, of £13.3m.

Flaherty owns a stake in MSB. He was not available for comment, to say whether Keyman might still up its bid.

Keyman will receive a break fee of £125,000, if MSB accepts Networkers’ bid.

Networkers is financing the deal through debt. Like MSB, it focuses on IT recruitment. Andrew Zielinski, chief executive of MSB, will leave once the offer becomes unconditional. Networkers has given an undertaking that his contract, including a £100,000 completion bonus, will be honoured at that time.

Networkers floated on the Alternative Investment Market this year. Its managing director is Spencer Manuel (pictured).