Harris Hill undergoes MBI
The £2.1m deal means an exit for founders Steve and Julie Hill
The husband and wife team who built Harris Hill recruitment have sold their business in a deal worth £2.1m.
The company, which provides staff for charities and not-for-profit companies, has been taken over via a management buy-in (MBI) led by former Office Angels man Aled Morris.
He will be joined by chairman James Wesley who has worked as a corporate advisor for over 20 years.
The management team has received £2.1m of backing from YFM Private Equity which arranged for its Chandos Fund to invest £1.5m. Alongside this a further tranche of £600,000 has been invested by the British Smaller Companies VCT.
The deal means an exit for Steve and Julie Hill who were keen to sell the business.
Julie Hill said: “With the addition of Aled as CEO we look forward to seeing the business continue to flourish.”
Morris now believes that he can take the company forward and that it will grow rapidly.
“It is a very strong business and brand and is well placed to deliver the ambitious growth and development plans we have,” he said.
“YFM Group has been supportive and straightforward throughout the buy-in process and are an ideal partner for us as we look to grow”
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