Siamo bids to keep growing after MBO

A SOLIHULL recruitment and training firm has undergone another management buyout.

Private equity house Key Capital Partners has sold its interest in Siamo Group to the management team in a undisclosed deal backed by Clydesdale Bank.

Siamo is based on Birmingham Business Park and provides temporary and permanent recruitment services, accredited training, HR, payroll and IT services. It operates from 50 locations across the UK.

Key Capital Partners, which is based in Leeds and London, backed Siamo’s managing director Tony Bucciero in a buyout of the group in 2007.

Since then, the company has expanded rapidly with annual sales increasing from £16 million to more than £100 million.

Mr Bucciero said: “Siamo has been transformed during the period of Key Capital’s involvement.

“We are now a market leader in our chosen sectors and well positioned to continue our rapid growth.”

Advisers on the deal were Ward Hadaway, Dains, Freeth, Cartright and Orbis.