Archer Mathieson

Client: Archer Mathieson

Counterparty: Hexagon Human Capital

Sector: Human Capital

Deal Type: Sale

Transaction Description:

Assay Corporate Finance acted as financial advisors to the Board and shareholders of Archer Mathieson, which has been acquired by AIM listed Hexagon Human Capital PLC, creating the largest interim executive business in Europe.

Archer Mathieson provides interim management and executive recruitment in the specialist fields of finance, IT and human resources. It is ranked as the UK’s number one provider of interim management outside London by Executive Grapevine. Clients range from entrepreneurial SMEs to FTSE 250 and Fortune 500 companies across a variety of industry sectors and include Microsoft, Serco and Shire Pharmaceutical.  The company is based in Windsor and employs 25 people.

For the 12 months ended immediately prior to acquisition, Archer Mathieson reported net fee income of £3.9m, profit before interest and tax of £1.2m (normalised) and net assets of £1.4m.
The maximum consideration payable is £17.5m. Of the total consideration, £6.6m is payable on completion followed by payments of up to £4.3m based on the profits of the company for the 12 months post acquisition. The balance of £6.6m falls due for payment over the following 3 years, subject to the achievement of certain performance targets.
John Archer, founder of Archer Mathieson said:
“I am very proud of the business that the other partners and I have created at Archer Mathieson.  By becoming part of Hexagon, we have achieved the next logical step in our development.”
“The contribution which Mike Simson and his team of Assay Corporate Finance made was superb. They demonstrated rock solid technical skills enabling them to explain clearly and deal effectively with all of the complexities which arose during the process. Perhaps even more impressive was the way in which they handled the commercial aspects of the negotiations – always pursuing a favourable outcome for us whilst maintaining the trust and confidence of the buyers. Finding that balance is tricky, yet with sensitivity to each parties’ needs and wishes, they maintained it throughout.”