Forward advises Vantage Market Entry on Management Buyout
Forward Corporate Finance is delighted to have advised Mark Shields, the majority owner of recruitment business Vantage Market Entry, on selling a stake to his management team. The transaction sees Patrick Sim, Partner, and Jack Knowles, Partner, take meaningful stakes in the business. It also enables two other team members to secure minority stakes, with founder Mark retaining an equity position and continuing to be fully committed to the business going forwards.
The deal also paves the way for new partners to take a stake in the business in the future, either from within, or from similar search businesses based in the USA or Europe which would further strengthen the team at Vantage.
Based in Kensington, London, Vantage Market Entry specialises in the movement of senior executives and teams between leading global firms in Management Consulting, Private Equity, and Corporate marketplaces, with a focus on the US market.
The business was founded in 2001 by Mark Shields following the sale of a majority stake in his previous company, Corporate Executive Search, which in 1998 was the first head-hunter to float on the London Stock Exchange. With extensive experience as a leading recruiter of senior executives for market leading firms, Mark, with the support of Patrick and the wider team, has built Vantage into the well-respected and dynamic recruitment company it is today.
Mark Shields commented that “Rob and Will have provided excellent support to me throughout this transaction. The advice I received at the outset in relation to deal structuring was of the highest quality and the project management that followed helped all parties to move together to overcome any challenges faced to reach completion.”
Rob Dukelow-Smith, Director Forward Corporate Finance added that “Mark initially spoke to us about a common question for owner managers of businesses, wondering how he can commence his eventual exit from Vantage, ensuring that the business carries on without him once he has fully departed, but whilst staying involved in the leadership and daily client facing role that the business can’t currently do without. An MBO can be deliberately staged exit planning that enables the younger team members to step up, whilst still retaining the guidance and knowledge of the founder and focusing that team on real ownership in the future, a genuine incentive”.
Paul O Rourke, trusted advisor to Vantage added that “Forward’s assistance in the deal and management of the deal process has enabled us to complete an MBO that would not have been achieved without third party specialist advice, and the end result works for all parties, a great job all round”.
Legal advice for Vantage was provided by Tracey Dickens at Birkett Long, and for the management team by Mark Stigwood at Attwaters, with tax advice from James Boustead at Rickard Luckin and David Richardson at Croucher Needham.