Green Square advises Periscope on its sale to Aspire Global Network

31st March 2011

Green Square is delighted to announce the sale of leading creative services recruitment agency Periscope to Aspire Global Network. The agency will sit alongside the Network’s existing specialist recruitment brands which includes PFJ and RPCushing.

The acquisition will bring Aspire Global Network’s headcount to 84, with turnover of over £12m and gross profit of £9m.

Green Square advised Periscope’s shareholders throughout the process, from initial preparation and analysis of the company’s strategic options through to the negotiation of the commercial terms of the transaction.Having completed a thorough review of the development routes available to the business, a majority acquisition by Aspire Global Network was chosen by the shareholders as providing the optimal strategic fit for the future development of Periscope due to the complementary areas of sector focus and the Network’s proven ability to integrate established brands and support international
expansion.Kim Crawford, the founder and main shareholder of Periscope, commented:

“We are delighted with the way in which Green Square led the transaction. Their experience and specialist knowledge was key to securing the successful conclusion to our search for a strategic partner. Their hands-on approach ensured we were guided swiftly and safely through the complex exercise providing invaluable, focused advice throughout.”

David Ainsworth, a Green Square partner, commented:

“It was imperative we found a buyer that not only met the aspirations of Periscope’s shareholders, both financially and strategically, but also built upon Periscope’s heritage of professionalism. The fit and chemistry between Periscope and Aspire Global Network was obvious and compelling. In bringing the specialist businesses together under the Network we are very pleased to have assisted in the creation of what is now one of the largest and best-positioned independent recruitment companies in the UK.”

About Periscope

Established in 1998, Periscope is a leading boutique recruitment consultancy for the creative industry. Priding itself on its positioning as home to stellar talent, Periscope services its clients’ resourcing needs across all levels of seniority and role, be it freelance or permanent. Periscope made it its mission to provide the best quality service it can to clients and candidates alike through exceptional levels of professionalism and a deep knowledge of the creative sector – at all times ensuring the hiring process is as positive and painless as it can be.

About Aspire Global Network

Aspire Global Network holds a number of leading specialist recruitment companies focused on providing high quality recruitment services to the media and marketing services sector. The Network incorporates PFJ, The Graduate Recruitment Company, RPCushing and Sydney based ICUR. Previously named the PFJ Network the group has recently rebranded to the Aspire Global Network
to bring greater clarity to the family of recruitment brands within its portfolio.