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Nes Fircroft (1)

​Following the announcement that NES Global Talent (NES) has combined with the Fircroft Group, NES today further substantiated its position as the world’s leading staffing provider as it announced record results (as a single entity) for the year ending 31st October 2019 with an EBITDA of $90.0m (£70.7m), a 56% increase on 2018.

Turnover increased substantially from $1.1bn (£0.8bn) to $1.7bn (£1.3bn) with net fee income at $204.5m (£160.7m).

Fiscal 2019 also saw NES further strengthen its balance sheet with a strong cash performance, generating $23.8m of operating cash. This excellent cash performance, coupled with the Group’s flexible financing structure, put NES Global Talent in a strong competitive position enabling the Group to complete the transaction to combine with Fircroft on the 20th of September 2020.

With 50 years in business, Fircroft is as an ideal addition to the Group. In their Fiscal 2019 (ended August), Fircroft supported some 7,500 contractors and posted Net Fee Income at $54.5m (£42.8m) as a stand-alone business.

Together NES Fircroft delivers highly skilled engineering and technical talent through its Contract and Permanent Placement services as well as through its Managed Solutions capabilities. The diversified customer base includes leading companies in the Oil and Gas, Power and Renewables, Life Sciences, Chemicals and Mining industries. The NES Fircroft vision is to be the global leader in engineering and technical talent in all of these markets.

Commenting on the results, Stephen Buckley, NES Fircroft Group CFO, said:

“These numbers clearly demonstrate the fact that NES has put a strong vision in place over several years and has invested in the right areas to ensure we can fulfill our growth ambitions. We will continue to invest in our people, who are our greatest asset and in 2021 we plan to invest further in ‘best in class’ technology and innovative training solutions to build an engineering recruitment company which is unparalleled in the marketplace.”

Tig Gilliam, NES Fircroft CEO, concludes:

“This is a very exciting time for everyone at NES Fircroft. We will look back on 2019 as an outstanding year for the Group which saw NES win 17 industry accolades and achieve organic financial performance unsurpassed in the industry. We appreciate the efforts from all our staff in making these goals realities and I would particularly like to thank them for their continued dedication in recent months, as we have faced the Covid-19 crisis together as a team. The NES Fircroft core values and strong focus on delivering exceptional services to our end clients, our contractors and consultants is the fundamental purpose that has helped us again achieve a new record performance. We are excited now to see how our combined brand and people grow further as we build on these achievements to become the leading multi-disciplinary, multi-industry engineering and technical services staffing provider to the best companies in the world.”

Newly formed, NES Fircroft will be led by Tig Gilliam (CEO), alongside Simon Coton (COO), Stephen Buckley (CFO) and Johnathan Johnson (Executive Director). Johnathan will also join with the current NES Board Members to make up the new NES Fircroft Board.

ABOUT THE AUTHOR

Vicki Codd

Vicki Codd

Marketing Director

vicki.codd@nesglobalrecruitment.com

Key facts

15 years experience in Business to Business Marketing

Chartered Marketer, Cambridge Graduate 

Joined in 2015

Vicki is an experienced B2B marketer who specialises in brand and communications. Since graduating from Cambridge, Vicki has worked in a variety of service sectors including: IT, Telco, Financial Services and Social Housing.

What makes us different?

"NES is a global organisation yet it has a fantastic culture that ensures everyone feels part of the same team and works together on a local and international level.  The commitment staff show to providing the best service for candidates and clients is exceptional and makes marketing the brand an incredibly exciting proposition" 

Vicki is also a Certified Quark Digital Marketer and a qualified Helicopter pilot.