Nu-Staff, a prominent recruitment agency operating across South Wales and the West of England, has successfully completed a management buy-out. This strategic move, facilitated by a six-figure loan from the Development Bank of Wales, marks a significant milestone in the company’s journey towards continued growth and expansion. The acquisition was led by David Matthews and Paul Fletcher, with the support of GS Verde Group, ensuring the legacy of the late founder, John Scriven, continues.
A New Chapter for Nu-Staff
The management buy-out of Nu-Staff signifies a new era for the recruitment agency. David Matthews, who joined as Operations Director in 2021, and Paul Fletcher, a long-time member since 2001, have taken the helm. Their leadership is expected to drive the company towards ambitious growth plans. The support from the Development Bank of Wales has been instrumental in this transition, providing the necessary financial backing to secure the future of Nu-Staff.
The agency, known for its excellence in sectors such as aerospace, manufacturing, automotive, commercial, and engineering, is poised for expansion. With offices in Chepstow and Cwmbran, Nu-Staff serves a diverse range of clients, including household names and blue-chip companies. The new leadership aims to build on this strong foundation, ensuring the company remains responsive to the ever-changing needs of its clients and the market.
Honoring the Legacy of John Scriven
John Scriven, the founder of Nu-Staff, dedicated 30 years to building the agency into a trusted name in recruitment. His commitment to matching the right individuals with the right employers was driven by a focus on consistent and quality service. This core value remains at the heart of Nu-Staff as it embarks on this new chapter.
David Matthews and Paul Fletcher, along with co-Director Michelle Mallett, are honored to continue John Scriven’s legacy. They are committed to maintaining the high standards set by Scriven and ensuring the agency’s reputation for excellence endures. The support from GS Verde Group and the Development Bank of Wales has been crucial in enabling this transition, allowing Nu-Staff to move forward with confidence.
Future Prospects and Expansion Plans
Nu-Staff is not only looking to maintain its current operations but also to expand into new regions. The management team is excited about the future prospects and is planning to welcome additional team members to support the company’s growth. This expansion is part of a broader strategy to enhance the agency’s presence and capabilities in the recruitment industry.
The financing for the management buy-out was secured through the £500 million Wales Flexible Investment Fund, which provides a range of financial support to businesses based in Wales. This fund, financed by the Welsh Government and the Development Bank of Wales, offers loans, mezzanine finance, and equity investments, ensuring that companies like Nu-Staff have the resources they need to thrive.
