Another recruitment acquisition over the line, delivered by the recLAW team 🎉
We’re delighted to have acted for Poonam Mawani and Adil Mawani on the sale of Azuki Accounts to TC Group. They join Recruitment Accountants, its specialist division for the recruitment sector, in a deal that completed on 18 September.
The Deal
Azuki Accounts is a specialist finance partner for recruitment agencies. Founded in 2016 and based in Middlesex, it runs the entire finance function for recruitment businesses. This includes pay and bill, contractor finance, bookkeeping, credit control, board packs and FD-level support.
That is a business built for one sector and nobody else.
So is the business it now joins.
Recruitment Accountants, a specialist division under the TC Group, has spent over 15 years working with the recruitment sector, supporting more than 100 recruitment businesses across the UK with accountancy, tax, payroll and advisory services. It was also recently named APSCo Partner of the Year.
Together they now support more than 150 recruitment businesses across the UK.
The Team Behind the Deal
recLAW’s Barry Cullen, Rachel Landy and Cameron Malcolm acted for the sellers, taking the sale from first instruction through to completion.
It goes without saying that a sale like this is rarely just the sale agreement. Employment, commercial and client contract questions all surface at the same time. Having a team who work in this sector every day is what stops those questions slowing a deal down. That is what we bring to every transaction we run.
“A sale starts years before anyone makes an offer. It starts in how the business was built, who owns what and whether the contracts say what you think they say. Azuki had all of that in order long before the approach came.” Barry Cullen, Partner & Solicitor at recLAW
Thinking about buying or selling a business in the recruitment sector?
Explore our corporate law services to see how recLAW supports recruitment businesses and the suppliers who serve them through sales, acquisitions and getting deals over the line.
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Send us an enquiry or call us today on 0203 778 0605.
