The ITHR Group acquires IT Banking and Financial specialists 752 Solutions Ltd

The ITHR Group are delighted to announce that on the 1st July 2012 they acquired the entire share capital of IT Banking and Financial specialist recruiter 752 Solutions (UK) Ltd and 752 Solutions (Asia) Pte in an all cash transaction.

The transaction propels the ITHR Group plc into a rare league of £50m+ turnover, recruitment and related IT services organisations in the UK who remain truly independent.

Commenting on the deal ITHR’s Group CEO Sean Gallagher, said “The acquisition of 752 UK is a fantastic fit for the ITHR Group as they serve a market that we have strived to enter for a number of years.  Our plans are to invest in and grow the 752 brand thus building on its “A List” reputation and client base in the financial recruitment sector.

752 enjoys an enviable “A” list reputation in the London and Singapore financial IT recruitment markets which we are keen to grow and develop further

As with our last acquisition in 2011 of Swan IT, the specialist SAP recruiter which was another market we were keen to enter organically but dominated by a small number of established players, the synergies between our organisations were compelling in that, we are all competitors in the professional IT recruitment market, but had zero overlaps in terms of niche markets, global footprints or client bases.

The next step is to fully integrate the three recruitment focussed businesses, including eight operating niche brands active across three geographical regions, into one cohesive, valued and respected provider of IT Human Capital solutions across the globe.”

Alistair Singleton, Managing Director of 752 Solutions explained “The overwhelming rationale behind 752 joining forces with the ITHR Group was two-fold: joining with a like-minded independent recruiter with shared values, ethos and culture combined with a desire and the financial capability to take 752 to its next level of growth.  I have achieved a lot in taking 752 from its inception, growing it into one of London’s premier league independent providers of specialist financial IT staff, but now we are ready for the next phase of growth and development as part of a larger yet, crucially, still independent group”.

Further commenting Sean Gallagher concluded “The bigger opportunity for the ITHR Group is ultimately to cross sell our other business brands into our new found Blue Chip Financial Client base. In particular, in areas where we know we already excel, such as our software solutions, products and consultancy arms who are specialists in areas of mobile internet platform build and development that can equally support mobile transactional banking and trading. We can now offer these services to a wider client base where we have established relationships in software technology areas.

The other area we see value in 752’s operations is to expand its already established Singapore operation through localised organic growth as well as providing us with an easy entry point for other brands, such as ITHR Telco, for which we have always been keen to develop the Far East market.  All in all this has been an exceptional outcome for two independent companies with mutual aspirations and a shared vision to come together to provide exceptional value add services to our clients”