Rethink looks to TM-led service future
20 January 2015
Newly delisted from the London Alternative Investment Market (AIM) and re-registered as a private limited company, Rethink Group is now looking ahead to making up to three acquisitions in 2015 as part of its refocused future as a talent management (TM) services-led business “that does a lot of recruitment”.
Mon, 26 Jan 2015
Newly delisted from the London Alternative Investment Market (AIM) and re-registered as a private limited company, Rethink Group is now looking ahead to making up to three acquisitions in 2015 as part of its refocused future as a talent management (TM) services-led business “that does a lot of recruitment”.
To drive further into TM, Rethink will ramp up its employer branding, assessments and workforce planning offerings while also potentially offering recruitment process outsourcing (RPO) services. Acquisitions will “accelerate” their move into TM, Rethink chief executive (CEO) Steve Wright told Recruiter. He added: “We’ve got to try and find acquisitions that turbo charge that strategy.”
Wright revealed further: “We’ve got a couple of acquisitions bubbling away, and…the first one we close will be an entry [point] for new investment. We’re a long way down the track with this [first] one.”
Operating in the business & technology, retail, pharmaceutical and life sciences sectors, Rethink announced in November that it would seek to delist from AIM because the burdens outweighed the benefits of being listed. Wright also told Recruiter that delisting would allow Rethink to attract investors willing to inject smaller amounts of cash into the company’s growth.
“The first cheque we’re going to ask someone to write would have been too small for an institutional fund to write,” Wright said.
“I’m sure we could have done what we wanted to on AIM, but it would have taken between seven to 10 years as opposed to three to five.”
The company has been operating in TM areas for some time, “but we didn’t really call it that”, director Michael Bennett told Recruiter. “We had a great relationship with a client and formed a new business to manage relationships like that. We’ve had Rethink Talent Management as a brand for about nine months.”
With businesses such as ASOS, Boots, Marks & Spencer and Skype already clients of Rethink’s TM services, Bennett said that probably “50%-plus of our TM pie started off as a recruitment piece. That’s classically where we start with one part of the relationship, and as it works, extend it out”.
The primary focus will be on the UK, but at the same time the company handles some international work. “It’s difficult to go charging off into foreign climes,” Wright said. “Let’s create our models and our service capabilities in our home territory first before we get too adventurous.”
Internally, management changes are also underway to support the refocusing of the business. Iain Blair, who previously oversaw Rethink’s business in the South, is now managing director of the talent management business. Rob O’Callaghan moves to heading up the ‘open market’, or recruitment, business from managing Rethink in the North.
The firm delisted on 9 December and the re-registration took place on 29 December.
DEEDEE DOKE [email protected]
To drive further into TM, Rethink will ramp up its employer branding, assessments and workforce planning offerings while also potentially offering recruitment process outsourcing (RPO) services. Acquisitions will “accelerate” their move into TM, Rethink chief executive (CEO) Steve Wright told Recruiter. He added: “We’ve got to try and find acquisitions that turbo charge that strategy.”
Wright revealed further: “We’ve got a couple of acquisitions bubbling away, and…the first one we close will be an entry [point] for new investment. We’re a long way down the track with this [first] one.”
Operating in the business & technology, retail, pharmaceutical and life sciences sectors, Rethink announced in November that it would seek to delist from AIM because the burdens outweighed the benefits of being listed. Wright also told Recruiter that delisting would allow Rethink to attract investors willing to inject smaller amounts of cash into the company’s growth.
“The first cheque we’re going to ask someone to write would have been too small for an institutional fund to write,” Wright said.
“I’m sure we could have done what we wanted to on AIM, but it would have taken between seven to 10 years as opposed to three to five.”
The company has been operating in TM areas for some time, “but we didn’t really call it that”, director Michael Bennett told Recruiter. “We had a great relationship with a client and formed a new business to manage relationships like that. We’ve had Rethink Talent Management as a brand for about nine months.”
With businesses such as ASOS, Boots, Marks & Spencer and Skype already clients of Rethink’s TM services, Bennett said that probably “50%-plus of our TM pie started off as a recruitment piece. That’s classically where we start with one part of the relationship, and as it works, extend it out”.
The primary focus will be on the UK, but at the same time the company handles some international work. “It’s difficult to go charging off into foreign climes,” Wright said. “Let’s create our models and our service capabilities in our home territory first before we get too adventurous.”
Internally, management changes are also underway to support the refocusing of the business. Iain Blair, who previously oversaw Rethink’s business in the South, is now managing director of the talent management business. Rob O’Callaghan moves to heading up the ‘open market’, or recruitment, business from managing Rethink in the North.
The firm delisted on 9 December and the re-registration took place on 29 December.
DEEDEE DOKE [email protected]
