A NORTH-East specialist recruitment company has been bought out by two of its management team.

Teesside-based company Techconsult UK has been acquired by managing director Steve Guest and finance director Sarah Taylor.

The company, originally part of Norwegian firm Techconsult Norway, is based at Wilton International, and provides technical and engineering talent to clients operating in a range of industry sectors on a permanent, temporary and contract basis.

The new owners will implement a three-year growth plan, which will include job creation and expanded services to place more high-quality engineering talent into a growing customer base, with the support of business advisor Gary Lumby and the team at Ryecroft Glenton Corporate Finance (RGCF).

Mr Guest said: “Completing the management buy out creates a great opportunity to further grow our business and increase the scale of operations in our key sectors.

"We are very proud of the reputation we have built across UK industry, which will provide a springboard to the next stage of development of the business and include the creation of additional employment and new opportunities for our candidates and clients.”

Carl Swansbury, head of corporate finance and partner at RGCF, said: “Steve and Sarah have developed an agile and professional business, which is prime for growth.

" We are proud to be working with them, alongside Gary Lumby, to implement a growth strategy and source new working capital facilities, which will enable Techconsult UK to deliver upon its scale up ambitions.”

Gary Lumby, managing director of Focus on Success Ltd, said: “This is a brilliant opportunity for Steve, Sarah and the team at Techconsult UK to expand its position in key industry sectors. It has a strategic understanding of the markets in which it operates and with the support I have been able to provide, alongside Carl and his team at RGCF, I am confident that the business will embark on a new growth trajectory.”