Target seal third deal for Aspire Global Network

BOUTIQUE advisory firm Target Corporate Finance has advised on a third acquisition for London-based media recruitment agency Aspire Global Network, formally known as Phee Farrer Jones (pfj). The Bristol based corporate finance team led by Managing Director, Mark Harman, were advisors to Aspire Global Network on the deal, which saw it acquire a majority stake in London creative recruitment specialist, Periscope. Founded 13 years ago, Periscope joins Aspire’s global network of specialist recruitment companies, which include pfj, The Graduate Recruitment Company, RPCushing, and Sydney-based ICUR. Commenting on the deal, Mark Harman of Target Corporate Finance said: “We have been working with pfj and Aspire Global Network to help build its global network over the past eight years. This latest deal follows acquisitions in both the UK and Australia and adds further to the group’s impressive portfolio of recruitment businesses.” The new acquisition will take Aspire Global Network's headcount to 84, turnover to over £12m and gross profit to £9m. Paul Farrer, Chairman of Aspire Global Network, said: "Periscope has been established over 13 years as one of the most professional recruitment companies serving the design and creative sector. Kim Crawford, the MD, is a terrific leader and just like our other acquisitions - RPCushing and ICUR - Periscope is a great fit for us with opportunities for growth both in the UK and abroad”. “Since our first acquisition in 2008 we have proved that we can integrate brands, help them manage in a recession and grow them quickly. Periscope has 13 years of heritage to build on and is clearly a premium brand in a crowded market. We look forward to working with the team and exploiting the clear synergies between our brands" Kim Crawford, Managing Director of Periscope, said: “I am extremely proud of what Periscope has achieved over the last 13 years, identified by a clear standard of professionalism within the design and creative industries. We are thrilled to have the backing of the Aspire Global Network and I look forward to developing the business both in the UK and abroad taking advantage of working closely with all the brands in the group." Advisors Buyer Lead Advisory: Target Corporate Finance (Mark Harman, Simon Morrison) Buyer Legal: Clyde &Co LLP Vendor Lead Advisory: Green Square Vendor Legal: Russell Cooke LLP ENDS For media information, please contact Corrina Cockayne at Target Chartered Accountants on 01225 486348. Notes to editors: Target Corporate Finance Target Corporate Finance is an award-winning boutique advisory firm, with a strong track record of advising vendors and purchasers on a wide range of corporate transactions, including mergers, acquisitions, disposals and management buy-outs. Target Corporate Finance is part of Target Chartered Accountants – a top 50* accountancy firm, with 185 staff across offices in the South West, London, Reading, and the Midlands. As an owner-managed business, Target has a strong understanding of entrepreneurs and strategic business issues, combined with the high level expertise and service usually associated with multi-national firms. (*source: Accountancy Age 2010)

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