Livingstone’s Business Services sector team has advised Chamonix Private Equity on the sale of its portfolio company Shorterm Group to Growth Capital Partners.
Shorterm Group is one of the UK’s leading specialist engineering recruiters, supplying into the automotive, aviation, power, rail and general engineering end markets, and was acquired by Chamonix Private Equity in 2006. The company has built an extremely strong market-leading reputation based on its ability to provide flexible labour solutions to service the needs of its clients.
Steve Gallucci, CEO at Shorterm Group, said: “We are delighted to be starting the next phase of our growth strategy with Growth Capital Partners. Shorterm Group is at a very exciting stage of its development and we are delighted to have GCP involved to help us take the business forward. GCP has a great reputation for enabling companies to achieve their potential, and we look forward to working with them towards increasing our customer base and range of services.”
Jane Crawford, Managing Partner at Chamonix Private Equity, added: “We have had a very successful partnership with the management team at Shorterm Group, and would like to thank Livingstone for their guidance throughout the process.”
Patrick Groarke, Partner at Livingstone concluded: “It has been a pleasure working with Steve, Patrick Keenan and Chamonix on this disposal, and we are confident that the business will continue to prosper under Growth Capital Partners and the management into the future.”
This transaction follows on closely from Livingstone’s completion of Livingbridge’s investment in The Up Group, a digital executive search and networking business.