Insider Media Limited

The Nottingham office of Clearwater Corporate Finance has advised recruitment company Ochre House on the £13m sale of its subsidiary ITN Mark Education.

The Manchester-based subsidiary was sold to Indian-owned Core Education and Consulting Solutions (UK).

Ochre House, based in London, specialises in recruitment outsourcing and talent management. ITN Mark Education, which has offices in Northampton and Leicester, provides supply teachers and teaching assistants.

The deal is Clearwater’s second deal in the recruitment sector in the last 12 months, having advised on the sale of Teaching Personnel in July 2010.

Partners Marcus Archer and Paul Newell led the deal team for Clearwater, supported by director Karen Edwards.

Marcus Archer, partner at Clearwater, said: "The deal will allow Ochre House to focus closely on its goal to become Europe’s premier strategic partner for businesses seeking creative solutions in talent management. The transaction has allowed Ochre House and its shareholders to realise good value for the company and focus on their principal strategy.

"ITN Mark is a strong business with notable growth potential from a firm foundation of 16 branches and with opportunities to expand into new geographical markets. Its specialist service offerings, including those to single faith schools and academies, will also allow ITN Mark to continue to build its existing market share.

"For Core Education, this acquisition gives further penetration in the UK education recruitment sector and a strategic platform to become a national play in the UK, as it continues to expand globally."

Established in the late 1990s, ITN Mark provides supply teachers and teaching assistants to schools and local authorities in England and Wales.

Ochre House was subject to a management buyout in 2006 backed by NBGI Private Equity (NBGIPE). Its clients include O2, BUPA, SAS, Steria and Siemens.