North East recruitment company Nigel Wright Group has purchased all outstanding equity from its institutional shareholders to complete a management buyout.
The leadership team at Nigel Wright, which is headquartered in Newcastle but has offices across Europe, first initiated the MBO in October 2020, 10 years after Baird Capital bought the firm from founder Nigel Wright in a deal worth around £15m.
Now the group has refinanced the business and purchased the outstanding minority stake from Baird Capital and Beechbrook Capital, predominantly funded with a loan provided by ThinCats, which specialised in providing loans to mid-sized UK businesses.
