Sector News

Boxington announces the sale of Orion Electrotech to TechnoPro Holdings Inc

October 10, 2018

Human Capital sector specialist M&A advisor Boxington Corporate Finance (“Boxington”) has advised on the sale of Orion Electrotech (“Orion”) to TechnoPro Holdings Inc (“TechnoPro”) of Japan. Deal price and terms are not disclosed.

Founded in 1996, Orion is a technical recruitment specialist focusing on the Engineering, Manufacturing, Utilities and Construction markets, delivering contract and permanent recruitment services to blue chip and SME clients in the UK. In its current financial year Orion is expected to achieve revenues of £31 million and a normalised EBITDA of £2.6m.

TechnoPro is a leading provider of technology and engineering staffing services in Japan and across the Asia region where it has over 17,000 engineers on placement with clients. TechnoPro is quoted on the Tokyo Stock Exchange and has a market capitalisation of USD $2.25 billion. The acquisition represents TechnoPro’s first step into the UK / European market.

Chris Benham, Founder of Orion commented, “Boxington’s ability to access international strategic buyers, particularly those in Asia, was key to us achieving an exceptional deal result. Boxington were fantastic in getting the deal over the line with minimum disruption to our team.”

Boxington Director Mark Kingston commented, “we are delighted to have advised the Orion Shareholders on their deal. In TechnoPro we found a strategic international trade buyer that recognises the high-quality business and ambitious team that Orion has developed.”