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Scotland: Be-IT Co-founder and investors bought out of firm

Recruitment firm Be-IT has announced an “exciting and bright” future after a multi-million-pound management buyout.

The IT recruitment specialists, set up in 2013 with offices in Glasgow and Edinburgh, said managing director Nikola Kelly secured the deal to take control of the business.

Co-founder Gareth Biggerstaff and two other founding investors were bought out for an undisclosed sum.

Mr Biggerstaff will step back but stay on the board of the firm, which expects turnover at financial year-end this month to be £14 million.

“I’m extremely proud of the business we created. It has gone from strength to strength and thrived through difficult periods,” said Mr Biggerstaff said. “The time is right for this change, and I look forward to watching the next chapter unfold for Be-IT.”

He will also pursue other interests outwith recruitment and IT consultancy.

Ms Kelly said: “I attribute a lot of our success to the fantastic culture we have cultivated and the market leading training we provide for our staff.

“There is huge demand for highly skilled individuals in the industry and we have built a team to help both tech professionals and tech businesses be all they can be.

“We are proud to be leading the business through the next phase of its growth and we’re all excited to be playing a part in thousands of career moves working with the biggest names in the sector. This change offers us an exciting and bright future.”

ThinCats, the alternative finance provider to mid-sized SMEs in the UK, provided the funding. Ben Kimball, of ThinCats, said: “We are delighted have supported Nikola and her vastly experienced team.

“It is particularly gratifying to work with a business that not only place so much value on fostering a strong culture, but one that is also having such a positive impact to the tech industry in Scotland and beyond.”

AAB also supported the deal and provided advice. Chris Thompson, corporate finance director, AAB said: “Be-IT has built a fantastic reputation in the market for its positive culture and expert delivery.

“Under the leadership of Nikola and the MBO team, the business has gone from strength to strength. ThinCats have been the perfect partners and we look forward to working with them on future transactions.”

Source: The Herald

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