Founder of Acorn steps down as group’s MD
FOUNDER of one of Wales’ most successful businesses and leading UK recruitment firm Acorn Recruitment Matt Southall has stood down as group managing director.
Mr Southall, who has been succeeded by Andrew Tugwell in an interim capacity, established the business in 1992, with its first branch in his home city of Newport on Bridge Street.
Since then the business, which has remained headquartered in Newport, has gone from strength to strength, boasting some 60 branches across the UK, Poland, Portugal and Australia, with a combined annual turnover of £180m.
It is estimated that over the years,
Acorn has placed some 2.7 million people into new jobs via temporary and permanent position.
In 2005 Europe’s fifth biggest recruitment firm, Synergie, took a majority equity stake in the business.
Mr Southall, whose departure provides an exit for his remaining small minority stake, said: “It has been nearly 30 years since, with the kind support of three businessmen, initiated by the wonderful Bill Morris, that myself and co-founder Mike Mahoney opened that first branch of Acorn, and I have to say it has been an amazing adventure ever since.
“Together with some incredible colleagues, building the company from that one branch to the international business it is today makes me very proud – I’ve been so fortunate to have been joined on this journey by such a brilliant bunch of people.”
Acorn was the first business to appear on the Wales Fast Growth 50 initiative, which ranks the fastestgrowing indigenous firms, for four consecutive years.
Together with Synergie Mr Southall also set up subsidiary firms Acorn Global and Synaco, which now have 11 offices in every major city in Australia.
Acorn also sponsored Newport County Football Club for 14 years, which at the time was the third longest-running sponsorship in British football.
On the deal with Synergie Mr Southall said: “I recall a telephone conversation I had with Rhodri Morgan (the late and then First Minister) shortly after we had completed the deal, when he remarked once again his admiration for what we had achieved as a business for Wales and for the people and organisations we supported.
“He then asked, directly, ‘I hope this isn’t the end of Acorn,’ to which I replied that it was the beginning of a new start, which is how things have turned out.
“The success of Acorn is down to a team of people who believe in the work they do and who genuinely want to help provide the best value for employers and for the people we place with them,
“I will miss Acorn very much of course but the time is right for me and the business, and I wish my former colleagues, many of whom have become very close friends, every success for the next 30 years.”
Chief executive of Synergie, Daniel Augeraeu, said: “We are grateful to Matt for his years of leadership at one of our most emblematic subsidiaries around the world.
“We wish Matt all the best in his future endeavours, even though we are convinced that he will miss continuing to be involved in a business that supports people to reach their potential.”