CRG acquires stake in national recruitment firm STN Locums
01 Nov 2012
Recruitment and health service provider, Castlerock Recruitment Group (CRG), has acquired a 51 per cent stake in Serving the Nation Locums Limited (STN) – an established medical locums and social work provider, based in Shepherds Bush, London.
Part of the YFM Equity Partners portfolio, the St Helens-based firm said the deal would support the continued expansion and diversification of the business, which reported a turnover of £15.3 million in March 2012.
Speaking of the deal, Ian Munro, CEO of CRG, said: “This deal provides us with a fantastic opportunity to grow the business, by laying strong foundations in London and the South East.
“STN is a market leader in the supply of medical locums and social workers and its reputation and track record undoubtedly enhances our service delivery in this area. The investment will also complement our growing Medical Locums division in the North of England, which is currently spearheaded from our Leeds branch.”
As part of the investment, CRG will support STN with a clear growth strategy, focusing on brand development, in order to increase its presence and market share in the supply of medical locums. It will also be afforded technical support (in respect of its back office functions) from CRG, allowing it to reach its full potential as a leading provider of medical and social worker locums in the UK.
STN will continue to be managed by current directors, Shaloni Somani and Nadia Guechi, who both have seven years’ experience in the supply of healthcare personnel. The business is expected to trade independently as CRG STN Locums, while operating under CRG’s existing structure, which now includes 10 sub brands.
Nadia Guechi, director at CRG STN Locums, said: “We’re look forward to working alongside CRG’s operational team. Following the investment, we believe that both businesses will be stronger – we are now in the process of inputting procedures that will help to increase, not only the breadth of sectors we operate in, but the size of our client portfolio as well.”
The Manchester office of law firm, JMW, acted on behalf of CRG, in regards to the investment. The deal was completed for an undisclosed fee.
Chris Moss, corporate partner at JMW, said: "We are delighted to advise CRG on this strategic investment, which will give the business a platform to further implement its ambitious growth plans.”
CRG is a recruitment and health service provider that was established in 2000. The company specialises in the supply of medical locums, dental and allied health professionals and GPs, together with qualified nursing and healthcare staff, domiciliary care services and supported living, as well as providing general staffing solutions. It currently employs 112, from its headquarters in Merseyside.
CRG has an extensive portfolio of clients, covering both the public and private sectors. It is the preferred supplier to major public sector organisations, including the NHS and MoD, as well as over 17 local authorities, including Leeds City Council, Liverpool City Council and Salford City Council.
Private sector clients include Four Seasons Health Care, Spire Healthcare, Ramsay Healthcare, Nuffield Hospitals and General Healthcare Group (including BMI Hospitals). The company’s client base also includes charitable organisations, such as Macintyre, Mencap and Care UK.
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