IT Staffing Report: May 5, 2016

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Frank Recruitment Group acquired by private equity firm

Private equity firm TPG Growth acquired Frank Recruitment Group, a UK-based niche recruitment firm for IT professionals who specialize in enterprise software.

Terms were not disclosed, but TPG Growth acquired a majority stake in FRG from its founders and UK-based mid-market private equity firm Livingbridge, which invested in the company in 2013. FRG’s executives retain a minority stake in the firm.

The investment will be used to fuel global expansion targeting the US.

Co-founder Sean Wadsworth is moving into a non-executive position but will continue to serve on the board.

“We are immensely proud to partner with TPG Growth,” said CEO James Lloyd-Townshend. “They have a history of anticipating trends in technology and investing in some of the most innovative and transformative companies in the world. Their leadership and foresight in the space will be crucial as we target new segments of the cloud technology market, launch new brands, strengthen our existing ones, and grow from a 700- to 2,000-person recruitment business.”

FRG launched in Newcastle, UK in 2007 and operates four trading brands that each focus on a specific technology product. Nigel Frank launched in 2007 and recruits Microsoft Dynamics professionals. Its second core brand, Mason Frank, launched in 2010 and places Salesforce professionals. In 2014, FRG launched two additional brands: Churchill Frank, which focuses on SAS and other business intelligence and big data solutions; and Washington Frank, FRG’s incubator brand, which specializes in staffing opportunities in emerging cloud technologies.

The company employs more than 700 internal, permanent staff across its hub offices in London, Melbourne, New York, Newcastle UK, San Francisco and Singapore.

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