International legal practice Osborne Clarke has advised technical recruitment specialist, Orion Managed Services Limited (Orion), on the sale of a majority stake in the Business to TechnoPro Holdings Inc. (“TechnoPro”) of Japan.

Founded in 1996, Orion is a technical recruitment specialist focusing on the Engineering, Manufacturing, Utilities and Construction markets. The Business delivers contract and permanent recruitment services to both large blue chip and SME clients in the UK.

Orion employs 60 staff across two offices in Reading and Aylesbury. For the financial year ending 31st  March 2019, the Business is expected to achieve Revenues of £31 million, Net Fee Income of £7.1 million and Normalised EBITDA of £2.6m.

TechnoPro is a leading provider of technology and engineering staffing services in Japan and across the Asia region where it has over 17,000 engineers on placement with clients. TechnoPro is quoted on the Tokyo Stock Exchange and has a market capitalisation of USD $2.25 billion. The acquisition represents TechnoPro’s first step into the UK / European market and Orion will be the cornerstone of TechnoPro’s future growth plans in the region over the coming years.

Corporate Partner Mathew Bodfield, Senior Associates Alex Underwood and Harriet Clarke advised on the transaction.

Boxington Corporate Finance provided M&A advice to the Orion Shareholders.

Osborne Clarke’s Corporate team is considered a go-to practice for many companies in the recruitment sector, working with global businesses to fast-growth start-ups and market challengers. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.

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