All jobs are safe following a management buy-out of the Hexagon Human Capital by its senior management team, and there are no plans for redundancies.

Rob Walker chief executive of the as yet unnamed holding company, told Recruiter that under the deal in which Barclays Ventures takes a 50% stake was that the group stayed together, all staff kept their jobs.

The group will now comprise Archer Mathieson, BIE, Correlate Search and Euromedica. Oxygen will no longer be part of the group as it now under the ownership of its founder Ian Lloyd. 

Walker says that there will be “no imposition of change” following the deal as the operating companies had been operating profitably.

“The main issue was with HMRC and being unable to pay back the arrears that HMRC demanded in the time frame.”

Walker says that folllowing the prepack administration and its backing by Barclays Ventures those debts have now “fallen away.”