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Midlands-based recruitment firm saved in pre-pack deal

05-Aug-2016
Foresight Recruitment Solutions has been bought by large recruitment group, First Holdings (UK) Limited in a pre-pack administration deal. 

21 jobs have been saved at the firm, which has been put up for sale at the beginning of the year. First Holdings expressed interest a couple of months ago and proposed to buy the firm, however after experiencing trading problems, Foresight was presented with a winding up petition at the beginning of June.

First Holdings wished to continue with the acquisition but as Foresight was now insolvent, the sale would be in the form of a pre-pack administration through administrators, Leonard Curtis. 

CEO of First Holdings, Matthew Reddy, said in a statement: 

“This is an exciting acquisition for us all. Foresight’s business culture and vision fits extremely well with our group, which will enable us to grow each business with our exceptional service delivery standards and create cross selling opportunities for each other.”

He added, “I am delighted that, as a result of our acquisition, we have been able to ensure all the staff and temporary workers are being paid on time and that Foresight can continue to facilitate the employment of hundreds of people in the North West and Yorkshire.”

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