Moore and Smalley advises on recruitment deal
Cumbria recruitment specialist NRL has acquired oil & gas recruiter Petrolic Consultants in a deal that will create total turnover of over £120m.
With more than thirty years’ experience in the oil & gas sector, Petrolic will further strengthen NRL’s technical sector recruitment capabilities.
Petrolic’s offices in Guildford, Cardiff and Egypt will enable NRL to enhance its service offering to UK and international clients with requirements in the oil & gas sector.
Cockermouth-based NRL was advised on the initial negotiations and due diligence process by Moore and Smalley, led by corporate finance manager Ian Waddingham and partner Michael Proudfoot.
Andrew Redmayne, chairman of NRL, said: “NRL is delighted to announce the successful acquisition of Petrolic Consultants Limited. The acquisition is part of our strategic national and international growth plans. We look forward to combining NRL’s expertise in the technical sector with Petrolic’s specialist oil & gas experience, to offer all our clients an unrivalled recruitment service experience.
“NRL and Petrolic share the same values and we look forward to working with their team over the coming months to bring together two great companies.”
Michael Proudfoot commented: “This acquisition will deliver significant synergies for the enlarged company, enabling NRL to broaden its market reach and enhance its service offer to UK and global customers in a competitive niche market. I am confident that NRL will continue along its trajectory of continuing expansion.”
NRL specialises in the recruitment of trade and technical staff in sectors including oil & gas, nuclear, petrochemical and aerospace. The business operates from 11 sites across the country. Sales rose by 21 per cent to £87.9m in the year to December 2012, with gross profits up by 21 per cent to £8.4m.