Leading medical, education and social work recruiter the Sugarman Group has been acquired by Cordant Group plc, in a deal advised by Clearwater Corporate Finance.
The move is the first of several planned acquisitions by Cordant Group over the next couple of years, as the business continues to expand into new vertical markets and penetrate existing industry sectors.
The acquisition of the long-established Sugarman brand will allow Cordant Group to have a strong presence in the medical, allied and mental health professions and education sectors. It will also build on the success of Sugarman to further strengthen its reputation in the social care arena including the areas of fostering, adoption and social work.
Sugarman will continue to operate as normal under the leadership of Tim Wheeler, underpinned by the support and shared services of the Cordant Group. Internal training programmes and an advanced IT infrastructure are just some of the benefits that will enhance the Sugarman candidate and client experience and intensify the agency’s competitive position in its markets.
Cordant Group is a family business which consists of three independent business divisions including recruitment and facilities management solutions.
Phillip Ullman, CEO of Cordant Group, said: “Cordant Group has an ambitious growth plan and a vision to be leaders in all sectors that we operate in. For us to achieve this goal we need to attract the best people and look after them. Sugarman’s culture and people are a great match for the business and will add real strength to our offerings and growing success.”
Tim Wheeler, managing director of Sugarman Group, added: “This is the perfect partnership which will further enhance the experience we offer to our clients, candidates and colleagues and will enable the Sugarman Group to grow and evolve our sector leading services.”
Marcus Archer, head of Support Services at Clearwater, said: “Sugarman has found an excellent home in the Cordant Group, and with Cordant’s support the management team have a great opportunity to continue to accelerate the growth of the business. Sugarman also enables Cordant to gain a strategic foothold in the healthcare and education sectors. This deal demonstrates that there is a clear appetite from UK corporates to acquire good quality businesses with strong management teams in the UK market.”