Premier acquires jobs firm in Britain for €9m

Recruitment firm Premier Group has expanded into Britain with the €9 million acquisition of a financial recruitment specialist.

Premier said yesterday that it had bought Nigel Lynn Associates, an independent consultancy with 13 offices across Britain.

The addition of Nigel Lynn will allow Premier to double its net fee income to more than €30 million, while doubling its turnover to about €70 million.

The deal will, according to Premier, confirm its position as Ireland's largest recruitment company. Premier, which was founded in 1988, employs 110 people in six offices across the Republic. It specialises in financial, technical and technology recruitment.

The firm's managing director, Pat Fitzgerald, said yesterday that a UK acquisition had been on Premier's agenda for more than a year. The UK recruitment market is worth an estimated £24 billion (€35 billion), according to Mr Fitzgerald.

He said the attraction in Nigel Lynn lay in the firm's geographical footprint. Established in 1990, Nigel Lynn is the largest independent finance and accountancy recruitment consultancy in Britain. The firm has more than 180 employees.

Mr Fitzgerald said Nigel Lynn has "a lot of brand equity".

Premier also announced yesterday that it had hired senior recruitment specialist Steve Carter to oversee its UK business. Mr Carter was previously managing director of the UK and Ireland for Robert Half International and he will become a director of Premier.

Mr Fitzgerald, who founded Premier in 1988 and still controls the company, said business is "very buoyant" in the Republic.

Premier is posting annual growth of about 30 per cent, compared to an average of about 20 per cent over the past four years, he said. The company operates through four brands: Premier, La Creme, Brunel and Verkom.

Its latest move comes after a similarly ambitious investment from fellow recruitment firm, Grafton.

Belfast-based Grafton is buying Dublin agency Mary B Cremin for an undisclosed multimillion sum.