Ensors provided financial and tax due diligence services to IPE Ventures, the private equity arm of the IPE Group, on their acquisition of Taskmaster Resources Limited, a leading industrial recruiter, headquartered in Leeds and operating nationally.
Mark Keegan (FD of IPE) said “This was our first time working with Ensors and we were impressed with their speed and flexibility. Their full scope FDD report provided us with the insights we needed for the deal, and all within the tight timescales required. We would be pleased to work with Ensors again in the future.”
The Managing Director of Taskmaster, Andrew Skorupka, is staying on as both Managing Director and a shareholder. Taskmaster will continue to build its brand and run independently. Post-acquisition growth capital funding has been committed to facilitate further growth in Taskmaster.
Taskmaster joins Omega Personnel, Technical Support Services Personnel and EMR Search and Selection within the IPE recruitment platform.
Adam Fletcher, Group CEO of IPE Ventures, commented: “We are extremely excited to welcome the Taskmaster team onboard, the business is an established labour provider with a fantastic reputation for customer service and has great potential for further expansion. Taskmaster’s heritage is based upon compliance and customer service, perfectly aligning with our recruitment platform values.”
Andrew Skorupka, MD of Taskmaster, commented: “We are delighted to have joined the IPE Group. IPE’s vision and values perfectly align with our own and we look forward to working alongside IPE management to continue Taskmaster’s growth journey.
The buyside team was led by Adam Fletcher and Mark Keegan (FD of IPE), supported by Optima Corporate Finance, Ensors (due diligence) and Fladgate (legals). Sell side professional advisors were BDO (Corporate Finance and Tax). The deal was part-funded by Investec Private Capital alongside an invoice discounting facility provided by Investec Capital Solutions.