IQequity's first launch announced.
28/04/2009
InterQuest Group’s chairman Gary Ashworth is delighted to announce the formation of Lanborne Consulting, a new recruitment operation funded jointly by IQequity and experienced recruiter Ian Pratt.
IQ Equity is the private equity division of InterQuest Group. Started in January, it aims to fund individuals or teams looking to start their own IT recruitment business.
Lanborne is an IT sales recruitment business based in Slough and currently employs six recruitment professionals. The Lanborne team also has experience of placing IT specialists into the NHS and public sector.
Under the terms of the joint venture, InterQuest will own 70% of the equity in Lanborne reducing to 60% on the achievement, by Lanborne, of certain performance targets.
Commenting on the launch, Ashworth said “It’s a very exciting time for Ian and IQequity. Ian has put together an excellent team and we’re confident that the business will establish itself quickly – and they have made a flying start!”
Ian Pratt, Lanborne’s MD said “I’m very much looking forward to working with Gary over the coming years. There’s lots I can learn from him. And the team here at Lanborne Consulting is fired up and excited by the challenges and opportunities ahead.”
Ashworth sees this as the first of a string of new launches facilitated by IQequity. “It’s actually a good time to be launching - the economy has made the market very defensive so a new assertive entrant can make quick gains.”