Directorbank acquires Hanson Green to become UK market leader for Non Executive appointments
May 2008
Directorbank, the UK’s leader in boardroom appointments for private equity backed businesses has acquired Hanson Green, the prestigious non-executive search firm, for an undisclosed sum.
The deal firmly establishes Directorbank as the market leader in the appointment of non-executive directors and forms part of its aggressive growth strategy to build the business in terms of size, services offered and international reach.
Elizabeth Jackson, chief executive of Directorbank, said: “Our two businesses are complementary, with Hanson Green traditionally having worked with quoted companies and Directorbank mainly with private equity investors. Together we are 40 people strong providing a full range of services for clients, whatever their size or stage of development.â€
Directorbank and Hanson Green will continue to operate under their own brands within the newly formed Directorbank Group and consolidate their London operations.
Paul Myners, chairman of the Guardian Media Group and former chairman of Marks & Spencer, commented: “Hanson Green was one of the leaders in recognising the need for professional boardroom appointments in order to move away from the old boy network. Directorbank equally recognised that many of the old ways of recruiting were outdated and they have created a highly innovative and professional approach that focuses on business needs. It seems an excellent move for the two to come together and ensure boardrooms of the future have the best skills and support available.â€
Peter Waine, co-founder of Hanson Green, joins the group board: “Directorbank has a unique executive recruitment model and database systems second to none. With our enviable reputations and combined talent we are a powerful force for UK boardrooms.â€
Hanson Green, established nearly 20 years ago, is an independent search firm offering non-executive search and board consulting. It has appointed chairmen and non-executives to many of the UK’s FTSE boards and also has a financial services division specialising in asset and private wealth management.
Nova Capital Management backed Directorbank’s management buy-out in 2006 and introduced this deal. Directorbank, established ten years ago, works with 2,500 of the UK’s top directors keen to get into private equity backed businesses. It is retained by more than 70 private equity houses, looking to appoint chairmen, non-executive directors, chief executives and finance directors to their deals, both at the time of the transaction and post deal. In addition Directorbank has built a strong executive search arm and has a rapidly expanding interim practice.
Ends
For further information contact
Elizabeth Jackson, Directorbank 0113 297 8000
Peter Waine, Hanson Green 0207 493 0837
Victoria Tomlinson, Northern Lights PR 01423 562400
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