We are pleased to announce that PSR Staffing Solutions Ltd have acquired the business and assets of PSR Contract Solutions Ltd and PSR Group effective 1st August 2023.
Kroll were appointed by the Directors of PSR Group Ltd to review the future strategic path of the business. Following a review and an accelerated marketing programme for the business, PSR Staffing Solutions Ltd were the successful acquiror.
Matthew Ingram, Joint Administrator from Kroll commented “I was delighted to conclude the sale of PSR Contract Solutions which has a strong track record of providing valuable recruitment services across the construction industry. The sale has secured a successful future for PSR, its customers, team members, suppliers, and other stakeholders”
PSR Staffing Solutions Ltd is now supported by strategic investment partner Baystone Associates through its portfolio company ISS Labour headed up by Gary Beeston.
Gary Beeston, ISS Labour Group Managing Director commented “This purchase represents an exciting investment and supports the growth and development aspirations that were at the heart of the ISS Labour management buyout (MBO) in August last year. We are delighted to have the opportunity to work alongside PSR Group and to share the business synergies, management expertise and desire to build a successful and rewarding future for all our employees and stakeholders”
Craig Cowan, Investment Director Baystone Associates added “We are delighted with this acquisition, creating a combined entity with revenues of £120m. We invested in ISS Labour in 2022 and this transaction is further evidence of our desire to work with and support superb management teams, creating value for all stakeholders.”
James Sanders, PSR Group Founder and CEO said “By combining our strengths and collective knowledge, we’ll be poised to drive accelerated growth and innovation across both businesses. Our commitment to providing the highest service to our valued clients and candidates remains steadfast and the management team & I are backed by the strong support of our exceptional team within the PSR Group”
PSR Group will continue to operate as an independent business led by James Sanders and the current senior leadership team.
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