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Six-figure deal funds expansion.

Byline: By Henryk Zientek

A company which headhunts top executives for leading firms has signed a six-figure funding deal.

Executive search and selection company MGMS International has secured the backing from Bank of Scotland Corporate.

Now the Brighouse firm will use the cash to embark on an expansion drive.

MGMS International has annual sales exceeding pounds 4m and employs 60 people.

It aims to double in size over the next three years - and is using the new money for staff training and development.

MGMS provides search and selection services to the construction, private banking, sports, leisure, manufacturing and retail sectors.

It also offers recruitment advertising services and graduate recruitment services.

In 2004, MGMS was judged best search and selection company.

Last year, its parent company, Barkers Norman Broadbent (BNB), placed more than 230,000 candidates.

Mike Sheard, chairman of MGMS, said: "In order to grow, we need to be able to convert our new recruits from hungry young talent into seasoned consultants.

"This takes investment in people and having access to enough capital to realise this change."

Chris Parker, senior corporate banking manager at Bank of Scotland Corporate, said: "MGMS International is a classic example of a people-focused company where employees are their main assets.

"The business is backed by one of the biggest recruitment companies in the world.

"With industries such as construction suffering with a huge skills gap, the opportunities in the recruitment industry are numerous.

"As we understood the business and the direction it was taking, we were able to fund their requirements."
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Title Annotation:Business
Publication:Huddersfield Daily Examiner (Huddersfield, England)
Date:Oct 11, 2005
Words:256
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