CRG acquires HCL doubling annual revenue

Ian Munro and Tristan Ramus have led leading supplier of healthcare and medical professionals, Castlerock Recruitment Group LTD to acquire nationwide recruitment agency Health Care Locums (HCL).

CRG is set to achieve revenue in excess of £130m per annum following the acquisition of HCL which supplies staffing services in a range of healthcare sectors including: Nursing, Allied Health Professionals & Health Sciences (AHP/HSS), Social Care and Doctors in the UK and internationally.

The amalgamation of the two companies creates one of the largest and most diverse, market-leading providers of temporary and permanent health and social care professionals across the public sector, Ministry of Defence and private sector and opens up a wealth of opportunity to the newly combined group.

Ian Munro, Chief Executive Officer of CRG, commented: “This is a monumental acquisition for CRG and represents a transformational addition to the CRG group. It marks the beginning of another very exciting opportunity for CRG providing further scale, diversity and improved ability to cross sell our health and social care services, including access to market leading vendor managed service technology.”

CRG shareholders Ian Munro, Tristan Ramus and Jamie Webb led this transformational acquisition which increases CRG’s international presence with operations in India, Italy and the Philippines.

Tristan Ramus, Non- Executive Chairman of CRG, commented: “CRG and HCL are aligned on their focus on delivering value for money, high quality service and innovative solutions that underpin safe, efficient patient care. HCL’s values of sustainability, integrity, collaboration, innovation and excellence is built into everything they do.”

HCL operates its UK business from offices in London, Skipton, Leeds and Newcastle with a presence served from India, Italy and the Philippines. Services will continue to operate from its current branch structure and will retain its brand presence as a leading provider in all sectors.

Transactional due diligence on behalf of CRG was conducted by Rob McCarthy, DSW Transaction Services. Hemingways Solicitors Limited, led by Chris King, acted for CRG in the acquisition. Funding by Close Brothers plc. Deloitte acted as lead adviser to HCL, led by Katie Folwell-Davies and Ian Bleakley.

Andrew Metcalfe, Corporate Sales Director, Close Brothers Invoice Finance commented: “Close Brothers are delighted to support CRG and to provide facilities to facilitate the transaction and to fund the future growth of the Group. We look forward to working in partnership with the management team moving forward to help them realise their vision.”

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