Nu-Staff, a
leading recruitment agency operating across South Wales and the West of
England, has successfully completed a management buy-out, facilitated by a
six-figure loan from the Development Bank of Wales. This strategic move marks a
significant milestone in the company’s journey towards continued growth and
expansion.
David Matthews
and Paul Fletcher, with the support of GS Verde Group, led the acquisition of
Nu-Staff, a business originally established in 1993 by the late John Scriven.
With a wealth of experience, Paul Fletcher, who joined Nu-Staff in 2001, and
David Matthews, who came on board as Operations Director in February 2021, will
now lead the company’s ambitious growth plans, alongside co-Director Michelle
Mallett.
Nu-Staff has
built a strong reputation for excellence in key sectors such as aerospace,
manufacturing, automotive, commercial, and engineering. With offices in
Chepstow and Cwmbran, the agency serves a diverse range of clients, including
household names and blue chip companies.
David Matthews,
Director of Nu-Staff, commented:
"John
Scriven was a highly respected and well-liked professional who dedicated 30
years to building Nu-Staff into a trusted recruitment agency. His commitment to
matching the right individuals with the right employers was driven by a focus
on consistent and quality service.
For John it was
all about reputation and that remains our core value as we begin the next chapter
of the business. We are honoured to continue his legacy, ensuring that we
remain responsive to the ever-changing needs of our clients and the market.
We are
incredibly grateful to GS Verde Group and the Development Bank of Wales for
their unwavering support, which has enabled us to take the business forward.”
Building on its
established presence in South Wales and the West of England, Nu-Staff is poised
for expansion into new regions and will be welcoming additional team members to
support the company’s growth.
Mike Fenwick, Director and Head of Corporate Finance at GS Verde Group, expressed his satisfaction with the successful completion of the management buy-out, noting the importance of maintaining continuity within the business. He also conveyed his excitement about the future prospects for Nu-Staff under its new leadership.
Kelly Freeman,
Investment Executive at the Development Bank of Wales, highlighted the vital
role recruitment agencies like Nu-Staff play in supporting Wales' labour
market. She praised the company for its resilience and forward-looking
approach, expressing confidence in its future success.
The financing for the management buy-out was secured through the £500 million Wales Flexible Investment Fund, which is financed by the Welsh Government and the Development Bank of Wales. This fund provides a range of financial support, including loans, mezzanine finance, and equity investments, to businesses based in Wales, with amounts ranging from £25,000 to £10 million.
-ENDS-
About
Nu-Staff:
Nu-Staff is a
leading recruitment agency with offices in Chepstow and Cwmbran, serving
clients across South Wales and the West of England. Established in 1993, the
company specialises in recruitment for the aerospace, manufacturing,
automotive, commercial, and engineering sectors.
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