Specialist recruitment consultancy The Principle Partnership announced today that it has acquired Newman Personnel, the privately owned recruitment consultancy that specialises in office support including HR, finance and marketing. The deal worth 4.85m will add a new commercial area of expertise to The Principle Partnershipís already successful not-for-profit and medical divisions.
Commenting on the acquisition Chris Smith, CEO of The Principle Partnership, said:
ìThe Newman name is synonymous with quality in the industry and it has a very good blue chip client base that complements, rather than overlaps with our existing clients. The acquisition will undoubtedly provide excellent opportunities for all parties.î
Established in 1983, Newman Personnel has 14 employees based at the companyís two offices in the City of London. One of the companyís directors, Karen Whichello, will remain as managing director of Newman Personnel. There are no plans to change the company name as Newman has a well established reputation in the marketplace with clients that include BDO Stoy Hayward, Jones Lang LaSalle, CB Richard Ellis and the British Library.
Karen Whichello, managing director of Newman Personnel, said:
Newman Personnel is delighted to be joining The Principle Partnership in the next stage of our development as a company. We are confident that this will further enhance the service we offer to our clients and candidates because of the obvious synergies between the two companies.
The Principle Partnership prides itself on its quality approach to recruitment. Instead of building revenues through a high volume of placements and keeping overheads low, the aim is to create empowered and highly motivated consultants who help build a sustainable business for the future.
Chris Smith continues:
îNewman Personnel is an excellent fit with our current business model and is the next major step in our overall plans to grow the business. We are delighted to be expanding our team and expertise and are excited by the new possibilities and opportunities it brings both us and our clients.î
The Principle Partnership acquires Newman Personnel
The Principle Partnership announced today that it has acquired Newman Personnel, the privately owned recruitment consultancy.