We are delighted to have advised Team24 Limited on their sale to Capita Group plc.
Headquartered in Surrey, Team24 provides nurses and doctors at short notice for a wide range of temporary placements across the NHS and the private sector. The acquisition adds depth and breadth of expertise both to Capita’s recruitment business and to the range of services it provides to the NHS and wider healthcare market.
Established in 2005, Team24 employs 80 staff and has approximately 4,000 doctors and nurses registered for placement. Team24 made a pro-forma operating profit for its financial year to 31 March 2011 of £4.2 million on turnover of £32.7 million.
Capita acquired Team24 for an initial consideration of £24 million and a deferred consideration of up to £2 million dependent on Team24’s profit performance in the year to 31 March 2012.
I would like to thank the Grant Thornton team for the way they kept in touch from the first day through to completion of the sale giving me endless support and guidance throughout the transaction. It was a real pleasure to have Grant Thornton and in particular Rupert and his team with me throughout the process and I would have no hesitation in recommending Grant Thornton to anyone considering selling their business.Robert Stiff Managing Director, Team24 Limited