Driver recruitment firm Drivers Direct has undergone a management buyout (MBO) after receiving a £1.75m investment from a private equity firm.
The MBO sees ownership of the Runcorn business transfer to the current management team led by new MD Daniel Jellicoe, with plans to continue its organic growth and expand to new UK locations.
Formed in 2002, Drivers Direct specialises in the training and placement of drivers across all vehicle classes, including HGV, LCV and minibuses, on both a temporary and permanent basis.
It also provides management and support staff, operating from 21 locations, with a dedicated logistics centre in Tamworth.
Frontier Development Capital stumped up the £1.75m to help facilitate the £3.15m MBO.
Jellicoe said: “This latest investment from FDC marks a new chapter in Drivers Direct’s journey.
“Our organisation has performed well across both recruitment and logistics over what has been a turbulent 18 months.”
Jellicoe’s recent appointment as MD comes as founder Gethin Roberts moves to chief executive for a 12-month transition period.
