Long-standing DTM client, Cygnet Group Limited, has sold its major shareholding in Perpetual Engineering Partnerships Limited to Wirral-headquartered engineering, construction and logistics recruiter Russell Taylor Holdings Limited.
Perpetual Partnerships – the recruitment specialist arm of the Cheshire based Cygnet Group – works across a number of sectors, providing mainly high level placements in manufacturing, IT and architecture.
Managing director Garry Rogerson, who is also a shareholder, will continue to head up the operation and said “This is the beginning of a new chapter for the business and one that the whole team is looking forward to. We have had an excellent foundation over the last nine years under the Cygnet Group banner and being part of Russell Taylor Holdings now marks our next phase of growth.”
The investment will include a targeted growth plan for Perpetual Partnerships. With a £2m turnover, it currently employs 13 staff and there are plans to create 15 new jobs at its Knutsford base.
Russell Taylor Holdings already has subsidiary companies of Russell Taylor Group, Recruit Right, Nexus People, NMS Recruit and Assist Resourcing. It employs 457 staff and in 2018 had revenues of more than £113m.
Ed Barnes, Head of the Corporate and Commercial Team at DTM Legal, said “We have acted for the Cygnet Group of Companies for some time now and it has been a pleasure to help facilitate this part of its strategic plan.”
David Brands of Coppenhall Consulting provided business consultancy and project management support throughout the transaction.
Matthew Kimpton Smith, Chairman of the Cygnet Group said “We are delighted with the recent disposal of PEP to Taylor Russell Group. Not only is it the perfect home for the future development of Perpetual Partnerships, but it also enables Cygnet Group to focus on its core strategy of activities in the technical fibre processing market. We were very pleased with the superb assistance from DTM Legal in this process.”