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Frazer John Recruitment secures Greater Manchester Loan Fund investment

The Greater Manchester Loan Fund (GMLF), managed by Maven Capital Partners (Maven), is to invest GBP320,000 in recruitment consultants Frazer John Recruitment Ltd (FJR). 

The deal will also see existing shareholders injecting a further GBP130,000 into the business.

Manchester-based FJR specialises in placing managerial and executive level staff within the finance, technology, HR, and sales/marketing sectors. The business was established in 2011 by John Dyson, who has significant experience within the industry having been a Director at the international recruitment firm Robert Half. He subsequently led FJR through a period of significant growth over the past three years and it now counts a number of highly respected businesses amongst its client list including Moneysupermarket.com, Brother UK, and Manchester Airport.

As the economy improves and the demand for staff increases it has meant sourcing suitable candidates has become harder for many businesses. FJR has intentionally kept its key focus on only 4 key areas of staffing in order to deliver a high quality service and customer centric proposition to its client base. This approach has proved successful and has allowed the business to build stronger relationships with its clients ensuring that they put forward a small number of high-calibre candidates, rather than delivering high volume and potentially poorer quality applicants.

FJR, which already employs 21 staff, will use the funding to aid further expansion and it is forecasted that the deal should generate an additional 25 jobs in the coming years. 

The deal represents another example of how the GMLF has become an established and valuable source of finance for SMEs across the Greater Manchester area. With the current economic climate making it harder for companies to borrow, the Fund was set up in 2013 to provide flexible finance solutions for promising businesses in order to encourage growth while creating and safeguarding jobs. The GMLF has since provided a number of loans ranging from GBP100,000 to GBP500,000 to eligible companies, with the potential for follow-on funding up to GBP750,000.

Andy Thomas, Investment Director at Maven, said: “We’re delighted to be able to support this ambitious company with finance from the Greater Manchester Loan Fund. John and the team provide a high quality service to their clients which has helped them to deliver impressive growth to date. We’re looking forward to working with the company to help them expand further.”

John Dyson, Founder of FJR, says: “This is a significant part of a round of funding that will inject almost GBP450,000 into the business so is a hugely positive step for Frazer John. The funding is key in allowing us to capitalise further on our rapid growth and market-leading position. By creating a significant number of new career opportunities within our specialist consultant teams, based in Manchester, it will allow us to further increase our   service delivery to current and new clients both locally and nationally.  

“We have come a long way in a short period of time which is a direct reflection of the quality of our people and the great service we have provided to many of our clients and candidates. I am very grateful to both our current shareholders who continue to support the business and Maven for recognising the opportunity to support us in our exciting future growth plans."

Pannone Corporate undertook Legal Due Diligence on behalf of the Fund, whilst Sean Moriarty of Alistair Walmsley Consulting undertook Financial Due Diligence.

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