Talent acquisition software specialist TribePad has been purchased in a management buyout led by former Plusnet CTO Dean Sadler and the board of directors.
The Board bought one hundred per cent of the business to enable a restructure which supports plans for rapid growth in the next five years.
The Sheffield-based recruitment technology firm, founded in 2008, delivers applicant tracking software for a wealth of high-profile brands including the BBC, Tesco and KFC. The software is used to administrate tens of thousands of vacancies every month and is responsible for millions of active candidates.
TribePad’s purpose is to deliver efficiencies and long-term cost savings on recruitment processes, particularly in businesses which handle multiple vacancies, often across several sites. The business currently serves more than 50 customers across 16 countries.
Recently appointed TribePad CEO, Dean Sadler, said: “The completion of the MBO is a crucial step which enables us to actively implement our aims for the business, including doubling turnover in the next 12 months.
“Some of the biggest brands in the world have come to favour our product because of unrivalled expertise and world-class customer support; it is now time to build on this and take the product into new markets.”
The TribePad board was assisted by Matt Ainsworth, Partner at Irwin Mitchell and Matt Milnes and David Robinson of Shorts Chartered Accountants.
Matt Ainsworth said: “TribePad is a highly innovative company and in a short space of time has built up a strong reputation for driving cost savings within the recruitment sector. We are delighted to be working with TribePad and we wish the business a successful future.”
Matt Milnes added “We were delighted to assist the shareholders with this transaction, and look forward to providing continued support throughout the next chapter of the company’s growth.”
L - R Andy Tupholme, Dan Kirkland, Alexis Twigg, Dean Sadler and Matt Milnes
Tags: Corporate Finance, Team News
