International recruitment firm Antal International has announced the sale of its Russian subsidiary to the FiveTen Group for an undisclosed sum.
This is the sixth deal for FiveTen Group in the last eighteen months and the first significant acquisition within the recruitment sector in the Russian Federation.
"We are delighted with Antal Russia joining the FiveTen Group; they are a superb business that operates in several specialist sectors in Russia and dominates most of them!" said Graham Palfery-Smith, Global CEO of the FiveTen Group. "The synergies with our recruiters in Laurence Simons (legal), Greythorn (IT) and WH Marks Sattin (finance) are manifold", he continued, "and it is no coincidence that Antal Russia is the leading sales and marketing recruiter in Russia and fits very well with EMR, a UK business the group acquired a few weeks ago, which we are presently rolling out around the world."
Tremayne Elson, Managing Director of the Antal International Russia, business praised "the exceptional abilities of my management team and consultants"; but also "the enlightenment of Tony Goodwin, who attracted this investment, to facilitate our ever more rapid expansion in Russia; a market viewed by many as one of the most exciting and dynamic in the world”.
The newly enlarged FiveTen Group has approximately 520 recruitment consultants operating from 28 offices in 12 countries and covers the full suite of infrastructure products from HR to marketing via finance, IT and legal. The group also has specialist consultants operating in banking and technical disciplines such as telco, construction and energy.
Commenting on the disposal, Antal International’s Chairman and CEO, Tony Goodwin said, "This is a very exciting time for us and particularly for the team in Russia and shows what the market and our management team are capable of in building a business able to attract this calibre of investment."
As the intention was to capitalise on Antal Russia's market-leading position in the Russian executive recruitment space, Goodwin will continue to own and expand the rest of the Antal Group outside Russia with businesses in China, Middle East and Europe, as well as the franchise arm Antal International Network, which combined, employs over 500 professional staff in operations across 18 countries in Africa, India, Asia, Middle East, UK and Europe.
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