Recruitment consultancy Blue Group International Limited has announced the disposal of its Bluetec business to Morson plc.
Bluetec specialises in the placement of permanent workers to the construction sector and is one of the UK’s largest dedicated construction search consultancies.
Bluetec works with many of the UK’s leading construction houses and was the first recruitment company to launch a dedicated contingency search offering to the UK market for middle to senior level managers and directors within the construction sector.
Advising Blue Group International on the disposal was Clearwater Corporate Finance led by partner Marc Gillespie and Ben Wilson.
The deal will enable Morson to further develop its expertise in the construction sector. Blue Group International’s Chief Executive, John Zafar said: “This is a good acquisition for Morson. Bluetec has the advantage of having secured key customer relationships within the industry as well having a team of consultants professionally trained and geared to such a model and this will further enhance Morson’s offering in the market.”
With a turnover approaching £9 million Bluetec is based in London and has plans to develop a regionalisation programme which will include the opening of further offices. International expansion is also on the horizon for Bluetec with the Middle East being a key area.
Bluetec have placed candidates at landmark projects such as the new Wembley Stadium, Battersea Power Station, St Barts PFI Hospital, Kings Waterfront Liverpool and Manchester Royal Infirmary PFI.
Clearwater’s Marc Gillespie added: “This is an excellent result for Blue Group International. We were appointed by the Company to find an acquirer with the appetite to take on a major player in the sector. Bluetec has a strong and well balanced management team and I have no doubt they will go from strength to strength within Morson.”
The construction market is one of the oldest and most mature in the recruitment sector. Over the last five years the construction market has been extremely buoyant with industry output growing from £69 billion in 2000 to £102 billion in 2006 with one in ten people employed in the UK working in the construction market.
Blue Group International also focuses on social care via its Bluecare Social Care and on the medical sector via its Bluecare Medical business. With a £45 million turnover the group was founded in 1999 and in 2001 Gresham Private Equity invested in the business to support the next state of growth. During this period Blue Group has established itself as one of the fastest growing recruitment companies in the UK.