Rainmaker has completed the acquisition of the Resourcing Hub, a UK-based technology and business resourcing specialist.
This is the first acquisition for Rainmaker since receiving funding from the European Investment Bank (EIB), through Funding Circle. This followed the EIB’s commitment in June 2016 to lend £100 million to UK small businesses. EIB funding was confirmed despite the result of the UK referendum.
As well as funding Rainmaker’s acquisition strategy, EIB funding continues to support Rainmaker’s work with UK government departments and agencies. Much of this work is focused on preparing for a post-Brexit Britain.
The acquisition is expected to be earnings enhancing in the first year. It will double Rainmaker’s client base in its existing target markets, focused on the Public and Financial Services sectors. It also expands Rainmaker’s opportunity in adjacent markets including Infrastructure, Hotels, Leisure, Aviation and Travel.
The Resourcing Hub has supplied high-quality technology specialists to a wide range of sectors since 1999. They bring an understanding of corporate culture as well as the technology skills and experience needed to excel in the new digital workplace. The acquisition will accelerate Rainmaker’s ambition to be UK category leader in delivering successful transformation to the public and private sectors.
Jan Joubert, CEO of Rainmaker Solutions, said: Business change is, at its core, a people process. To achieve and sustain transformational change, organisations must understand people and culture at every level. The resourcing hub are leaders in this field. This acquisition builds our recurring revenue base and accelerates our expansion into adjacent markets. Not only is EIB funding supporting our strategic plan to deliver both organic and M&A-led growth, it is also allowing us to bid for and win work with the UK government as it prepares to deal with the consequences of Brexit.
Antony Enright, Managing Director of the Resourcing Hub, commented:In Rainmaker we have found a committed and experienced partner which shares our vision and values. Rainmaker’s approach to business and digital transformation is regarded as industry leading, and our networks and expertise will further strengthen its position and opportunity in the market.