Didsbury recruitment firm Finlay James plans ‘exciting future’ following MBO

IT sales recruitment business Finlay James Associates has announced a management buyout (MBO).

John Gaughan, the firm’s former joint managing director, has purchased 100% of the shareholding alongside Sara Gaughan and taken ownership of the Didsbury-based company.

Joint MD Mark Neilan has left the business to pursue other opportunities.

The change of ownership means that John is now Finlay James Associates’ CEO, while Sara has taken on the role of HR director.

Elsewhere, operations director James May will retain his current post and Richard Gibbard will become director of talent acquisition and training, where he will focus on internal recruitment and training for the new Finlay James Academy.

Ruth Farrar, meanwhile, will lead the firm’s Birmingham office as managing consultant.

Founded in 2003, Finlay James Associates has offices in Manchester, Birmingham and St. Albans. Its 42-strong team sources permanent IT, sales and digital staff for clients all over the world.

Following the MBO, chief exec John intends to increase the company’s headcount by 50% and open a new office in central London.

Commenting on the deal, he said: “I am thrilled to have completed the MBO and whilst we can be proud of our achievements so far, we have big plans for an even more exciting future.

“Against this background of strategic change, the company will be maintaining a ‘business as usual’ focus – enabling our IT, Sales and Digital clients to gain a competitive advantage through the talent that we supply.”

Chris Holden, from Manchester-based accountancy and business advisory firm Saffery Champness, served as a deal adviser on the MBO. Richard Hepworth and Emma Thomas from law firm Brabners provided strategic legal advice. John Sheridan of RBS also assisted with the transaction.

Brabners partner Richard Hepworth commented: “I am delighted to complete my first deal at Brabners only four weeks after joining.

“I wish John and Sara all the best in helping to take Finlay James Associates into the next exciting phase of its development.”

Speaking further, Finlay James Associates’ John Gaughan said: “I would like to pass on my thanks to Saffery Champness, Brabners and RBS for helping us to complete the deal so promptly.”