People Source | Deals Case Study

Jason Baker, CEO and Founder of Bristol-based IT recruitment business People Source, wanted to explore his exit options, and maximise value on the build up to a sale. We were delighted to have helped.

Featured in LSE’s 1000 Companies to Inspire Britain in 2016, and Sunday Times Fast Track 100, People Source Consulting’s growth has been exceptional. Founded by Jason Baker in 2002, the vision for People Source was to establish a collaborative, customer focused and people centric company.

Tired of KPI driven recruitment, Jason set about creating a recruitment business where ownership of targets, self-management and responsibility for output were all second nature. No need for oppressive management, just an ethos that reward for success will lead to more success.

Having built the business from nothing, Jason felt that the time was right to diversify his personal asset portfolio by selling the company. Additionally, the business had reached a scale where it was time to look to the future and ensure a longevity beyond Jason and secure the long term well being of its staff.

Manpower offered the perfect home through its Partnership Programme, allowing People Source to continue to operate autonomously and maintain its all important culture. Testament to the success of the partnership is that Jason continues to lead the business today.

Building Value

We've had the pleasure of working with Jason on a number of projects to help develop People Source over the years, to include:

Exit Planning

For several years prior to the sale, we worked closely with Jason and the management team at People Source to ensure that the business was in the best shape possible for the transaction. We were able to utilise our deep understanding of recruitment businesses to successfully protected and maximise value .

Trade Sale

We advised Jason on the deal that saw People Source sell to Manpower, a company with global revenues of more than $21 billion and an unrivalled global network. Importantly for Jason the deal allows People Source to keep its branding and unique culture, continuing its mission of sourcing the best talent people can’t find.

Rewards and incentivisation

Working closely with Jason, we assisted in the design of appropriate reward and incentive schemes to ensure that staff were motivated to deliver growth and ultimately benefit from the rewards of a trade sale, whilst carefully balancing the needs of any new owner.