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7th November 2018

Thrings advises on sale of construction recruitment agency

Thrings has helped the sale of London-based First Choice Recruitment to specialist construction recruitment consultancy McGinley CEP.

First Choice was founded by Louise Smith in 1999 with the help of a Prince’s Trust loan and set out to be the go-to recruitment agency for the construction industry. Headquartered in Watford, McGinley specialises in construction, engineering and property recruitment. Recognising First Choice’s successes over its 19-years of operation, McGinley’s acquisition of the business is a step towards realising its plans to expand further into the specialist recruitment market.

Important to Louise was to secure a buyer that would build on the company’s client relationships, while valuing its workforce. As Staffing Industry Analysts reported earlier this autumn, a new group leadership team will help accelerate First Choice’s growth alongside the implementation of ISO accredited policies, procedures and processes designed to safeguard the business and its staff.

Leading on due diligence, the share-sale agreement and negotiations from a legal perspective was Simon Hore, Corporate Partner at Thrings who said: “It was a pleasure to help Louise reap the well-earned rewards of years of hard work. Like many owner-managers, Louise has a great depth of knowledge of her business and sector and we were glad to be able to guide her through the newly trodden ground of selling a business.”

Working alongside Thrings, Watersheds sought the buyer and provided corporate finance advice throughout the transaction.

Louise Smith, who will stay on at First Choice, commented: “On deciding to sell First Choice, I knew I wanted to find a buyer with a similar set of values and culture. McGinley fitted the bill perfectly and I’m looking forward to seeing how we can build on each company’s respective strengths to the benefit of our valued clients, old and new.

“Not having been through the sale process before, it was greatly reassuring to have specialists from Thrings and Watersheds guide me through the various challenges that a transaction of this kind brings.”

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