Oriel Contractors Sell to Energize

Energize Capital, a private equity business based in Manchester, has acquired a majority stake in the recruitment outsourcing businesses Oriel Support, Oriel Contractors (and listed on Contractor Supermarket) and Oriel Accounting from Oriel Holdings. The deal includes new banking and invoice finance facilities from RBS Invoice Finance.

Oriel provides recruitment companies with funding, payroll, credit control, contractor umbrella services and accounting support. Oriel was founded in 2000 by chartered accountant Brian Pursey, who will remain with the businesses, which have a gross turnover of some £80 million and employ 35 staff.

Brian Pursey, CEO of Oriel Holdings commented, "This is tremendous news for Oriel. The investment and the new facilities will enable us to take full advantage of some large business gains won recently as well as new opportunities as they arise".

Hugh Fell, Managing Director of Oriel Support commented, "It's great to have new facilities with a lender like RBS Invoice Finance that has the scale to support our growth plans and I am especially pleased that the new investment gives us the resources to further improve the systems and processes that underpin our services to clients".

Steve Wortley, Managing Director of Oriel Contractors commented "After a year of solid progress in 2011 I am delighted that we have now secured new funding and partners which will add further strength to our future plans for growth.

"Oriel Contractors and Oriel Accounting have a clear vision to become a first choice provider to the UK recruitment sector and to contractors. This investment will ensure that we can continue towards our goal."

Dave Green led the funding from RBS Invoice Finance. He commented "I am really pleased to be supporting the Oriel companies which play a vital role in servicing and financing the requirements of SME businesses in the recruitment sector."