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News Corporate 2nd Aug 2021

Freeths advises Twenty20 Capital on the transfer of ownership of PMP Recruitment to Challenge-trg Group

Freeths has advised Private equity firm Twenty20 Capital on the  transfer of ownership of its high volume recruitment asset, PMP Recruitment to Challenge-trg Group.

The deal reinforces Twenty20 Capital’s focus on creating value for shareholders whilst remaining well-positioned to support Cordant’s sub-brands: Cordant People, Premiere People and Staffgroup – building momentum through portfolio growth, increased customer wins and new vertical entry points.

Tristan Ramus, Twenty20 Capital’s Founder and Investment Principal, said: “We are delighted to announce the merger of two-sector giants; PMP Recruitment and Challenge-trg Group. After 18 months of considerable investment, the PMP Recruitment business has gone from strength to strength, making it a strategic acquisition for Challenge-trg Group, positioning them as the UK’s largest blue-collar labour provider.

“The collaborative move demonstrates our ability to identify the right partner at the right time ensuring ongoing success aligned to our own values. I am confident that Challenge-trg Group will propel PMP Recruitment’s capabilities offering industry-leading service to both clients and candidates.”

A cross-office team was fielded by Freeths – led by Corporate Partner Dahren Naidoo the team included Jeremy Swift, Andy Francey, Rosanna Brown, Rebecca Hughes, Farrell Tang, Claire Boyce and James Dyson.

Commenting on the transaction, Dahren Naidoo said “We are delighted to support the Twenty20 Capital team on this important transaction for them and am sure that the combination of PMP with the Challenge-trg Group will provide a compelling offering moving forward.

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