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THREE directors of a Stirling-based recruitment consultant have completed a management buyout of the business. Long-serving executives John-Paul Toner, Julie Fleming and Alan Shave have acquired Contract Scotland from founder Colin Woodward, who has taken on an advisory role further to the deal. Contract Scotland, which specialises in technical and professional recruitment, employs 25 people, turning over £14 million. Mr Toner, who has been with the company for 18 years, is now majority shareholder, with Ms Fleming and Mr Shave having acquired “notable” stakes. Mr Toner said: “Colin has built a successful and respected company over the last 30 years which has redefined recruitment. Succession planning has always been high on the agenda and having developed my own career here and been part of the company’s journey, I’m excited and enormously proud to be part of the leadership team shaping its future. Together with Julie and Alan, our ambition is to build on th
The management buyout (MBO) is billed as securing “a strong future for the business, leaving it well-placed to take advantage of the opportunities that will arise as it emerges from the pandemic”.
The deal sees Mr Toner, who has been with the company for 18 years, become the majority shareholder, with both Ms Fleming and Mr Shave taking up directorships and acquiring notable shareholdings.
Mr Toner said: “Colin has built a successful and respected company over the last 30 years, which has redefined recruitment. Succession planning has always been high on the agenda and having developed my own career here and been part of the company’s journey, I’m excited and enormously proud to be part of the leadership team shaping its future.