THE Newcastle office of Ryecroft Glenton Corporate Finance has advised on the sale of two Midlands recruitment firms.

The firm advised Shropshire firm Willsco and its Telford-based subsidiary Anystaff Recruitment to Boardwalk Investments, a Sussex group which owns companies across the UK.

Boardwalk Investments is a two-year-old firm with specialisms including recruitment and has grown rapidly through acquisition and also organically to see its turnover top £40m.

Willsco has specialised in the placement of employees into food, automotive and manufacturing sectors since 1983. Anystaff complements Boardwalk Investments’ existing activities and gives the company a stronger presence in the Midlands and in key market sectors, particularly automotive and food.

Ryecroft Glenton’s director of corporate finance Carl Swansbury led the deal and worked closely with the Willsco owner Matthew Williams to identify BIL as a potential buyer for his business because of the strategic fit of the two companies.

Swansbury said: “This is a fantastic result for Willsco, Anystaff and BIL - the businesses fit perfectly. In Mr Williams we found an exceptional entrepreneur and a very well run business. It has been a pleasure to advise and lead such a strategically important transaction and we wish Willsco, Anystaff and Boardwalk every success going forward.”

Williams, who will continue on in the business to help build the new group’s offering, said: “An exciting future lies before Anystaff. Joining forces with an ethical company that truly cares about its clients and applicants is the main reason we elected to be acquired by Boardwalk Investments.

“It has the influence of a strong national agency, with the attitude and ethics of a smaller independent, which is a great combination. BIL is really going places and the Anystaff team is looking forward to the journey ahead.”