Incorporated in 2014, Jobact Petrochem Ltd was a Surrey-based recruitment consultancy specialising in the provision of engineers and designers, primarily to the petrochemical, oil and gas industries.
After 20 years of trading and reaching a £16m turnover, the owner decided to start the sale process to enable him to retire. Following initial discussions with Avondale, it became clear that to achieve the best possible deal, the owner would need to remain involved with Jobact for a significant period post sale.
Much interest was generated from Avondale’s selective marketing, which offered a choice of two potential purchasers. With Avondale’s guidance, the decision was made to sell to First People Solutions Group.
In addition to placing a competitive financial offer, First People Solutions Group had previously purchased a recruitment company operating in the same specialist sector through Avondale. The deal agreed will keep seller involved for two years after sale, although both parties are keen to extend this if they consider it necessary.