The founding Directors’ plans for Edge Tech Recruitment was not to build for sale, however, an offer out of the blue changed that! I coach the business owners I partner with to build their businesses as if the eventual goal is for a trade sale. The reason for this is the aspects would-be buyers place value on in a business are also great building blocks to grow a sustainable high profit business which can be scaled. In this way, you build a better business and if you do decide to sell or get an offer out of the blue, the sale value you do get will be that bit higher. The Directors bought into this principle from day one and together we worked on the various aspects that I cover in my blog ‘Growing A Recruitment Business To Sell – 8 ways To Increase Value’. Just over 18 months from the business going live, the brand building and noise the business was making in the market got the attention of a major recruitment group who very much liked what they saw. An approach to the Directors was made and the more that the would-be buyers saw of Edge Tech, the more they saw a great business to scale. An offer was made, the founding Directors decided to sell, and the deal went through in June 2020.
When we partnered with Rhys we did not think for a second the work he did with us would attract an offer to buy the business after only 18 months! One of the reasons we decided to work with Davidson Gray was Rhys’s experience of building his own businesses to sale, not that we intended to follow suit, but it gave us added confidence that Rhys would add huge value to the growth strategy of our business. We always had big plans, our goals were beyond a boutique agency, so the monthly strategy meetings we had with Rhys were always focused on laying foundations for significant growth further down the line. We did a lot of work on marketing, brand building and innovation beyond any other recruitment company in our space. It’s this work that clearly paid dividends in attracting an offer only midway into our second year of trading which has resulted in the sale of the business to a large recruitment group. We want to thank Rhys and the support of Davidson Gray who have been fantastic since day one, and we can’t recommend them highly enough to anyone looking to build a recruitment business.