Insider Media Limited

A Birmingham-based financial recruiter has been bought out by management from its German parent company, Insider can reveal.

Rob Lawton, managing director of Greenwell Gleeson, has completed the acquisition of the business from its parent, the German DAX-listed Amadeus FiRe Group AG. The company will become a private entity once the deal has completed.

The deal was funded by HSBC with advice on the transaction coming from chartered accountants Price Pearson and Dudley-based law firm Hawkins Hatton.

Terms of the deal were not disclosed.

Lawton said: "We are realising the benefits from the strategy we started in 2008 to broaden the spectrum of the stakeholders we engage with and support. We plan to take further advantage of these relationships in 2012 by expanding the existing team.

"The existing team is hugely experienced and boasts an average length of service in excess of ten years. The first step in this strategy has been to recruit two new consultants who joined us on 1 November."

Lee Capewell from HSBC said: "The business case to support this management buy out was clear. Recent profit and cash performance has been excellent and Rob presented a robust and coherent business plan. What was also attractive to HSBC is the highly diverse revenue streams the business has developed.

"In addition to supporting it's medium and large Midland based corporate customers significant sales are now being generated, supporting private equity and VC investments and, uniquely amongst its Midland peers, in the areas of turnaround, direct banking referrals and internationally."