BDO has advised the shareholders of Recruitex Limited, the holding company of Taskmaster Resources Limited (trading as TaskMaster), on the sale of the group to IPE Ventures, the private equity arm of the IPE Group.
Originally established in 1994, TaskMaster is a leading industrial recruiter, headquartered in Leeds and operating nationally via a network of multi-disciplinary regional offices. It provides a temporary, contract or permanent bespoke recruitment service with a fantastic reputation for customer service, and has great potential for further expansion.
IPE Ventures is a Mayfair-based boutique private equity firm providing specialist investment funding to the staffing and payroll sectors.
TaskMaster will continue to build its brand and run independently following the transaction. Post-acquisition growth capital funding has been committed to facilitate further growth, and Andrew Skorupka, the Managing Director of TaskMaster, is staying on as both Managing Director and a shareholder.
“It was a pleasure to work with the BDO team. Their deep knowledge of the sector and access to potential buyers meant that they really understood our business, growth story and our aspirations, which helped us communicate our story to investors and identify the right party to go forward with. They were very much “hands on”, and the team’s diligent and proactive approach delivered a great outcome for all stakeholders.”
Andrew Skorupka, CEO and Founder, Recruitex Limited
“We were delighted to have worked with Andrew and the TaskMaster team on this investment and we wish them well with the next phase of their journey. TaskMaster has exciting growth plans and it is great to see it join with a team who share its vision to help the business realise its potential. This transaction demonstrates the ongoing appeal of well-established and highly regarded businesses that have stood the test of time, but continue to innovate in an ever-changing sector.”
James Fieldhouse, M&A Managing Director, BDO