Specialist recruitment firm Elevation has completed a six-figure management buyout and launched a new business venture called Parkinson Lee Executive Search, which will offer Yorkshire firms a local company that can search for top executives.
In the past many Yorkshire companies have been forced to search in London or elsewhere in the UK, but Parkinson Lee said it has the local experience to track down board level people far more quickly.
The buyout of the Leeds and Rotherham-based business, established in 2010, was led by group managing director and Elevation founder Greg Parkinson and supported by fellow board director, Lee Bhandal. HSBC backed the deal.
Mr Parkinson said: “A lot of Yorkshire-based businesses have had to go out of the region to find board level people. Firms have said to us it takes a lot longer and costs more to do it this way. Lee and I have worked in the industry for over 25 years combined. We have a lot of contacts at executive level and we are in a much better position to provide local contacts.”
The business has been acquired by newly-formed parent company Elevation ConsultancyGroup.
Phil Hill, a qualified executive coach and a business mentor to a number of fast growth SMEs, has been appointed as non-executive director.
HSBCs senior commercial manager Chris Alsop said: “We were pleased to back this deal given the management team’s experience, expertise and desire to grow the business.”
Legal support was provided by Watson Burton with Wake Smith acting for HSBC.