Member Article

Exclusive land second Growth Fund investment

Recruitment and HR consultancy Exclusive has secured a second six-figure investment from the Finance for Business North East Growth Fund, following a first tranche last year.

The Newcastle-based firm, which has offices in Aberdeen, Leeds and the US, worked with NEL Fund Managers, which administers the Growth Fund, to bring in the first investment a year ago, since when it has grown its year-on-year turnover by around 25%.

It has also moved into new offices on the Prestwick Business Park which are three times the size of its previous premises, to provide the space required for current and future growth, as well as bringing in a new Cloud-based IT infrastructure, expanding its recruitment and HR teams and creating a new, state of the art website (www.exclusiveltd.co.uk).

A new US office has also been opened in Columbus, Ohio, which is viewed as a centre for the industries in which Exclusive has particular expertise, including engineering, oil & gas and automotive.

Exclusive has now secured a second Growth Fund investment through NEL which will help provide the working capital required to manage the firm’s expansion and enable them to recruit the right calibre of personnel, especially on the business development and recruitment side of its operations.

Managing director Mark Ions, who set the business up in 2007, said: “The last 12 months has seen us make a lot of progress on many different fronts, but we think we’re only scratching the surface of what we can achieve, and this second investment will help us keep us moving forward at pace.

“We’re seeing tangible growth across a lot of different sectors, from oil & gas and engineering through to Human Resources, IT and Executive Recruitment, and having the right personnel in place to meet different clients’ particular needs provides a real imperative for our own recruitment needs.

“One of the key challenges for us is getting in front of the decision makers in target businesses to show them that the way we work can make a real difference to their HR and recruitment functions, and further strengthening our business development team will give us a greater chance of getting our message out to the right people.

“NEL’s support has made a massive difference to our progress over the last year. It has helped put us in a position where we’re ahead of the curve, and we’re fully equipped to take advantage of the opportunities being presented by an improving economy.”

Jane Siddle, investment executive at NEL Fund Managers, added: “Exclusive’s management team have consistently delivered on their business plan over the last year, and have shown us a clear strategy for making excellent use of further investment.

“Ensuring capital remains available to North East firms like Exclusive that want to keep moving forward is crucial to both their development and the wider health of the regional economy as a whole.”

Aimed at regional businesses which are at a development and growth stage, the Growth Fund forms part of the wider Finance for Business North East Fund.

Managed by North East Finance, it will see £125 million of investment capital injected into the region by the European Investment Bank and the European Regional Development Fund 2007-13 over a five year period.

NEL is looking to make around 130 investments over the five-year life span of the Growth Fund, and is actively looking to speak to ambitious north east companies with robust business plans.

For more information about NEL’s investment criteria, visit www.nel.co.uk or contact the investment team on 0845 111 1850.

This was posted in Bdaily's Members' News section by Tom Keighley .