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Fircroft successfully receives minority equity investment

05/07/2012
Fircroft is pleased to announce that they have successfully received minority equity investment from Equistone Partners Europe (“Equistone”).

Equistone Partners Europe is a leading pan European Private equity firm, with offices in the UK, France and Germany. Equistone's focus is on providing equity funding to support management teams to grow their businesses.

The transaction was handled by Steve O’Hare, Paul Harper and Andrew Backen from Equistone’s Manchester office. Following completion of the transaction, Steve O’Hare will join the Fircroft board as a non-executive director. There will be no other senior management changes.

Steve O’Hare, director at the Manchester office of Equistone Partners Europe said, “Fircroft Engineering Services has demonstrated strong historic growth, becoming a leading international player in specialist engineering recruitment, particularly in the wider energy sector. The market prospects, combined with Fircroft’s service levels and continued geographic expansion, means there remains huge growth potential for the business."

Johnathan Johnson, Fircroft CEO said, “Fircroft is a global player that provides bespoke services to some of the world’s leading technical industries. We are pleased that Equistone shares our vision for the future and we are delighted to secure the investment and look forward to working with them in the coming years.

We have expanded the business to support our clients, both in the UK and increasingly in overseas markets over the past five to 10 years. We expect this trend to continue and we also plan to open new offices in the coming year to support our organic growth strategy and move into complementary services.”

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