Partner Article

US firm to buy Nigel Wright

A US Investment firm has acquired a North East recruitment company in a deal worth £15m.

Baird Capital Partners Europe is reportedly buying the Newcastle based Nigel Wright Group, which supplies staff to clients including Coca-Cola, Procter & Gamble and Walt Disney.

This is the first in a series of acquisitions Baird Capital is seeking to make in the sector.

Chris Harper, a director at Baird Europe, said that Nigel Wright was outperforming its competition and had grown during the downturn, posting net fee income of £9.6 million for the year that ended in April.

The European investment division of US firm Baird Private Equity, Baird Capital Partners Europe sold off Paddock Holdings, a UK multipoint door locks manufacturer, to Sweish buyer ASSA ABLOY in August for a 2.7 times return.

This was posted in Bdaily's Members' News section by Ruth Mitchell .