Private equity firm Key Capital Partners have sold their stake in recruitment firm Siamo Group to the management team.
Siamo provides temporary and permanent recruitment services combined with training, HR, payroll and IT services. It is headquartered in Birmingham and operates from 50 locations across the UK in sectors including retail logistics, E-commerce fulfilments and manufacturing.
Key Capital Partners (KCP) backed Siamo managing director Tony Bucciero in a management buy-out of Siamo in 2007. Since then annual sales of the business have increased from £16 million to over £100 million, driven both organically and through acquisition.
Tony Bucciero, Managing Director of Siamo, said: “Siamo has been transformed during the period of KCP’s involvement. We are now a market leader in our chosen sectors and well positioned to continue our rapid growth. KCP has been a consistent and supportive investor, providing valuable advice and enabling us to invest in the systems and people to deliver the first class service which our customers deserve.”
Owen Trotter, Managing Partner of KCP, added: “Over the last 11 years, Tony and the team at Siamo have done an excellent job, creating a market leader in personnel services from very small beginnings. Working with them and supporting their growth has been very satisfying and we wish them every success in the future.”