Beddison Group

Background

The Beddison Group is a leading IT and industrial workforce solutions provider, managing staffing, permanent recruitment, IT professional services and HR outsourcing across Australia through 14 offices with revenues of over $300 million. The business had over 150 employees and more than 3,500 contractors and operated under substantial brands including Clicks IT Recruitment and Hoban Recruitment. 

333 Capital was selected to run the sale process due to our track record of delivering successful outcomes on prior transactions in the workforce solutions industry, our credentials in running global trade sale processes for Australian businesses and our history of working with The Beddison Group around a number of prior potential acquisition opportunities.

333 Capital role and sales process

333 Capital ran a comprehensive international sale process including:

• Full global buyer research and screening process conducted including strategic fit, financial capacity, history of MA, markets and services focus, Oceania presence and other factors.
• 58 parties canvassed globally.
• Preparing all sales documents, including Flyer, IM and Management Presentation.
• Engagement and management of other legal and accounting advisers.
• Developing and managing the deal strategy and tactics resulting in competitive tension being maintained throughout the process.
• Managed the data room and QA process to allow Management to focus on running the business.
• Advised on the sale strategy including completion mechanics and documentation.
• Advising the Shareholders on and undertaking various stages of deal negotiations.

The outcome

Of all parties canvassed, the ultimate buyer was a $1 billion market-cap Japanese listed business, where English language skills were not prevalent. As a result, all marketing materials were translated to Japanese and all key negotiations took place in Tokyo, with the help of a Japanese translator and cultural coach we engaged for the process.

The process led to a successful sale of the Company to Outsourcing Inc. for c. $100 million. This was above all Shareholders initial pricing expectations.