This is a sector that is particularly active at the moment, our experience includes pure recruitment, training and associated human resource consulting businesses. The industry fits the ‘pyramid’ structure that we find helpful for transactions, by this we mean a larger number of smaller companies rising up the pyramid to a smaller number of large organisations. Thus it is possible to look in either direction and find sensible transactions. Most recently Oasis acted for MOT Models in its sale to Vedior NV, the 3rd largest recruitment firm in the world. This particular transaction reinforced our selling process from the perspective that the eventual buyer said had they simply been told the name of the business they would not have been interested in pursuing due to the initial perception of this area of temporary recruitment. Other transactions we have managed include the sale of Reflex HR to Empresaria Group PLC. The key feature with all businesses in this sector are they are fundamentally about the employees working within them, we are used to converting partnerships, providing incentive schemes and, clearly, conducting the process in complete confidentiality.
Oasis Europe has been very active recently in the financial services sector in developments arising from the increasing debt burden being experienced by consumers at the present time. Most recently we acted for Credere Limited in its sale to the private equity institution Primary Capital. Credere's business covered both corporate and personal insolvency including a rapidly growing IVA unit.
Distribution continues to be a dynamic sector. Although some companies in the field tend to be subjected to varied pressures including the tendency of larger clients to ‘go direct’ to the manufacturer/principal to get better terms, and the inclination of the manufacturer to go after the end-user directly to capture more margin, significant value can be added and created in this area.
Recent examples of our work in this area include the sale of Price Tools, the power tool wholesaler to BBS Group plc, and of Electro Controls Ltd to Watts Water Technologies, the NYSE-listed firm.