Angel helps recruiter?s profits rise
By PETER RANSCOMBE
Published in Scotland on Sunday on?Sunday 24 March 2013?
A RECRUITMENT firm has doubled its profits after calling on the services of one of Scotland?s best-known business angels.
Edinburgh-based C&P Recruitment turned to Paul Atkinson, who is also chairman of investment firm Par Equity, to help grow the business. Atkinson ? who made his fortune by selling his two head-hunting firms for more than ?12 million ? took an 18 per cent stake in C&P and has become its chairman.
C&P grew its turnover by 33 per cent in the year to 31 July to ?3.4m and is on course to break through the ?6m barrier during its ?current financial year.
Pre-tax profits at the company, which also has a branch in Inverness, doubled to ?240,000 after a surge of work on Shetland and on the Highland school-building project.
The firm ? which specialises in the construction, property and oil and gas sectors ? has also placed staff in roles in Bahrain, the Netherlands and Nigeria.
Managing director Mike Wynn, whose family owns C&P, said: ?Introducing Paul to the company has brought better disciplines around our finances and more confidence to apply growth to the business.
?We?re in good shape, we?re making better investment decisions and we?re beginning to see tangible returns with an increase in placements and new opportunities coming our way.?
Atkinson added: ?It?s been great to become involved with such a committed team.?
The business angel founded IT recruitment business Direct Resources in 1995 and sold it to Nasdaq-listed Mastech Systems in 1999 for ?3.4m.
He sold his RecruitmentScotland.com spin-out business to TMP Worldwide in 2000 for ?9m.
Atkinson became a professional investor?in 2008 when he formed Par Equity.
Note: ?Mike Wynn won the WeDO Scotland High Growth Company of the Year 2011 and was Finalist in the same Award in 2012. ?Paul Atkinson has also been an Ambassador in the WeDO Scotland Executive Team since inception.