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New CEO buys Harris Hill

Article Date:  Jun 14 2007 Mark Dunne

A recruitment company serving charities and not-for-profit organisations has a new chief executive following a seven-figure deal. Aled Morris will lead Harris Hill’s existing management team following the buy-in, which was backed by YFM Private Equity.
YFM provided £2.1 million, with its Chandos Fund investing £1.5 million and the balance satisfied by its British Smaller Companies VCT. The group’s investment was complemented by debt provided by HSBC.

Surrey-based Harris Hill was sold by husband-and-wife team Steve and Julie Hill, who believe the new CEO will take the 11-year-old business to a new stage of growth.

Morris’ recruitment experience includes stints at Office Angels, Spherion and the Angela Mortimer Group. He is joined on the board by new chairman James Wellesley Wesley, who has provided corporate finance advice to the recruitment sector for more than 20 years.

This is the second investment YFM has made from Chandos following its £3.5 million backing of a buy-out at kitchen specialist Harvey Jones last month.

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