RIG Healthcare has been sold to Cpl Resources plc
Lincoln International (“Lincoln”), a leading global mid-market investment bank, is delighted to have represented the shareholders of Recruitment Investment Group in the sale of two of its subsidiaries, RIG Medical Recruit Ltd. and RIG Locums Ltd. (together, “RIG Healthcare”) to Ireland’s largest recruitment agency, Cpl Resources plc.
RIG Healthcare is a specialist temporary staffing agency serving the U.K.’s National Health Service from five offices nationwide. Its two divisions, established in 2002 and 2011 respectively, have gained a strong reputation for delivering incremental supply of experienced and scarce healthcare professionals through overseas sourcing of candidates. RIG Healthcare is known for its expertise in the disciplines of allied health professions, healthcare science services and senior and specialist locum doctors. It has won a place on all four major procurement frameworks and has supplied every major hospital trust in the country.
Lincoln acted as lead advisor in the sale of RIG Healthcare, providing guidance on strategic options, marketing materials and process tactics. With extensive experience in the recruitment sector and knowledge of the trade buyer community, Lincoln was able to run a competitive auction process which included bids from a number of overseas trade parties.
Edward Lethbridge, Managing Director of Lincoln’s U.K. Business Services team, commented, “With so many changes taking place in the National Health Service and in the run up to a General Election, it was testament to the quality of RIG Healthcare and its management team that multiple trade parties were interested in acquiring the business. In Cpl Resources, we found a highly motivated buyer ready to invest in the business and make the most of the exciting market opportunity. It was a pleasure for Lincoln to work with the RIG team in achieving this successful outcome.”
Bryan Lloyd, Co-Founder of Recruitment Investment Group, added, “Recruitment Investment Group’s long relationship with Edward and Lincoln gave us confidence that his was the right team to navigate through uncertain times in the public sector and the one to find an acquirer who would be the right choice for shareholders and the team who will be taking the businesses forward. Lincoln’s outstandingly professional approach, drive and effort cannot be underestimated in ensuring this sale was completed. Cpl is a great match for RIG Healthcare and provides the ambition and resources that will motivate their new team to deliver everyone’s expectations.”
The transaction adds to Lincoln’s strong sector credentials spanning public sector and private sector recruitment, agency and healthcare assets.
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