Morson Group

Morson supplies technical staffing solutions from over 20 locations across the UK to a range of sectors including aerospace and defence, nuclear and power, rail, chemical and pharmaceuticals, automotive, naval marine and ship building. Since its formation in 1969 the Group has built an exceptional track record of growth which has established Morson as the UK’s leading provider of technical recruitment services.

Following a competitive selection process Morson appointed Brewin Dolphin to assist the Company in securing an exit for its private equity investors and then to act as broker and advisor to the Company on its admission to AIM. Brewin Dolphin worked closely with the Company and its management for over two years to help structure the business for flotation, define the strategic aims and develop the Group’s investment proposition.

Morson’s main investment attractions are its exceptional track record through past economic cycles, a market leading position in the UK technical recruitment market, a large and diverse client base and sectors coverage and a portfolio of long term framework contracts that offer good earnings visibility.

Brewin Dolphin assisted Morson to secure an exit for its private equity investors through a leveraged secondary buyout in September 2005 and then guided the Company through the IPO process in March 2006. The Company raised £36m to repay debt and achieved a valuation in line with the £73m indicated by Brewin Dolphin’s Support Services team.

Since flotation Morson has continued to deliver strong year on year revenue and profit growth. The Company has made a number of bolt-on acquisitions in line with its stated growth strategy whilst developing long term relationships with blue chip customers to provide them with leading technical staffing solutions.

Client Comment

Ged Mason, Chief Executive commented: “Brewin Dolphin worked closely with us for over two years to achieve our aspirations. They consistently and ably advised us that we could provide our private equity partners with an exit using debt and then advised us through the IPO process to de-leverage the Company.”

If you would like to discuss this transaction please contact Matt Davis on 0845 059 4851.