Gap Personnel Group, which was founded by Gary Dewhurst and has operations in 45 locations across the country, owns and operates a portfolio of businesses which provide temporary and permanent staffing and training across the fast-moving consumer goods, the manufacturing sector and warehousing and logistics.
The company turns over approximately £136m and has an adjusted EBITDA, forecast for its
The company turns over approximately £136m and has an adjusted EBITDA, forecast for its financial year ending March 2018, of £4.5m. It also employs a workforce of 240 and covers more than two million shifts for more than 1,500 companies each year.
The existing management team, led by group managing director and shareholder Mark Roberts, will continue to work closely with Trust Tech Inc to further expand the group across the UK and Europe.
The Japanese business, which first entered the UK market in 2016 with its acquisition of MTrec, will also provide significant growth capital.
Gary Dewhurst, chief executive and founder of Gap Personnel Group, said: “We have built a robust and successful organisation, which is testament to the quality of our people and the relationships they have established in our core markets.
“The involvement of Trust Tech Inc. provides a significant springboard for Gap, which can open new domestic and international opportunities for the group.”
Yutaka Nishida, president and representative director of Trust Tech Inc, added: “Trust Tech aims to encourage growth and revitalisation of the economy globally through our primary staffing business in engineering, manufacturing and industrial fields.
“We expect Gap Personnel Group, led by its strong management team, to provide a strong foundation in our European business.”
Advising on the acquisition, Carl Swansbury, partner at Ryecroft Glenton Corportate Finance, said: “This acquisition can significantly increase Trust-Tech’s market penetration and expand the platform it is creating in the UK and Europe.
“Gap has established itself as a key member of the UK recruitment and training sector through dedicated entrepreneurial drive and corporate expansion, which makes it an ideal strategic partner for Trust Tech.”
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