Meridian marks five years of management ownership

Today, Meridian Business Support marks five years since its management buyout.

Led by CEO Derek Skelton and Finance Director Jeanette Barrowcliffe, the 2021 MBO transferred ownership of the business to members of its senior leadership team. Today, around 60% of Meridian’s employees are shareholders or share option holders.

Derek Skelton, CEO, said:

“Five years ago, we took ownership of a business with over three decades of history and a clear belief in what it does well. The last few years have tested every recruiter in the country, and they’ve sharpened our focus. Being management-owned means decisions are made by people who know our clients, candidates and branches first-hand. That matters even more in a market like this one.”

The anniversary follows one of the longest downturns on record for UK recruitment, with employers cutting back on both permanent and temporary hiring. However, the latest KPMG and REC Report on Jobs points to the first tentative signs of recovery, with temporary billings and permanent placements both edging up in September.

Many of Meridian’s client relationships pre-date the MBO. More than three-quarters of our 25 largest clients were already working with us before the buyout, and more than a quarter have been with us for over 20 years.

Derek added:

“As that recovery builds, our priority is the clients who rely on us the most: strengthening those relationships and doing the basics exceptionally well. We’re also looking carefully at where technology can genuinely improve outcomes for clients and candidates, taking routine admin off our consultants’ desks so they can spend more time on what they do best: supporting people.”