HUNDREDS of jobs have been saved after a recruitment firm was rescued from administration.

The purchase of Teesside-based MC2 Technical Recruitment Limited has saved 216 jobs and enabled part of the business to continue trading.

Based in Stockton, the firm specialises in providing contract, temporary and permanent staff to clients operating in the energy industries.

It was placed in the hands of Newcastle-based joint administrators Andrew Haslam and Gillian Sayburn of Begbies Traynor Group in August who, with the advice and support of Ryecroft Glenton Corporate Finance secured a sale of the majority of the business to national recruitment business, Jark plc.

Mr Haslam said: “The company established itself in the Teesside area recruiting specialist contractors into the oil and gas industry, both at home and abroad.

"In autumn 2013, it acquired the Leeds-based Network Employment Consultancy (NEC), which places temporary staff within and around Yorkshire. Unfortunately, following the loss of a number of contracts, the core Mc2 business became unsustainable and the directors had no alternative other than to seek to protect the successful part of the business, NEC, along with its employees and temporary workforce.

“Working with Carl Swansbury and Abu Ali of Ryecroft Glenton Corporate Finance, we were able to swiftly conduct a marketing exercise and were successful in identifying a strategic buyer for NEC. Complementary recruitment company Jark plc has acquired the entire Network Employment Consultancy business, securing the operation of NEC’s three offices and all staff associated with this division of the business.

"Unfortunately, we were unable to find a buyer for the Teesside operation, resulting in the closure of the office and the loss of eight jobs.”

Mr Haslam continued: “The assistance and support of funders, the management team, Ryecroft Glenton Corporate Finance and the other professional advisers engaged was vital to ensure that at least one division could be rescued in a very short timescale, and we wish Jark Plc every success.”

Mr Swansbury, said: “NEC, which was run as a separately branded business within Mc2 is a good business, with an experienced management team and team of employees. The company operates from four offices and has a long standing client base, along with a substantial bank of experienced temporary workers and therefore I knew that the business would be of interest to a number of strategic partners.

“Despite the circumstances and extremely challenging timetable we accepted the engagement to advise and within seven business days we were able to identify national staffing business, Jark Plc as the ultimate buyer for the business, which has enabled NEC to continue in business, whilst securing the employment of its 200 temporary workers and 16 direct employees.”

Established in 1996, the Jark Group is a £80m turnover, national staffing business with branches across the UK and Northern Ireland.

John Buckman, the chairman of Jark plc, saidf: “NEC is a perfect fit for the Jark Group. We are very pleased to welcome NEC and its experienced staff to the Jark family and look forward to realising the added value the acquisition brings to the group in the coming months.”