The founders of Leeds-based workforce management specialist Nutral Solutions have taken full ownership of the business following the exit of Human Capital Investment Group, in a transaction backed by NEL Fund Managers.
The deal positions the fast-growing company for its next phase of expansion as demand continues to rise for specialist workforce compliance and assurance services across the construction and infrastructure sectors.
Founded in 2021, Nutral Solutions supports principal and specialist contractors working on major construction and infrastructure projects through managed service provision, vendor management, contractor payroll, IR35 compliance and workforce consultancy. Its sister business, Workforce Assured (WAL), provides independent supplier accreditation, compliance audits, training, tax and worker compliance services.
The business has experienced significant growth in recent years as contractors place greater emphasis on workforce governance, supply chain assurance and regulatory compliance, driven by increasingly stringent industry requirements and a growing focus on reducing operational and reputational risk.
Founders Alex Gosney and Ben Wardleworth said taking full ownership would allow the business to build on recent contract wins and invest further in its services and long-term growth strategy.
Alex Gosney, chief executive officer of Nutral Solutions, said: “Securing full ownership comes at an exciting time for the business. We’re seeing growing demand from contractors who want confidence that every aspect of workforce management and compliance is being managed to the highest possible standard.
“As regulation becomes more complex and expectations continue to rise, businesses increasingly want trusted partners who can help them manage risk while supporting major projects. This transaction gives us the platform to continue investing in our services, strengthening our client relationships and building on the momentum we’ve created.”
The transaction was advised by Yorkshire and North East-based RG Corporate Finance (RGCF), working alongside colleagues from across the wider RG advisory business, including Outsourced | FD and the firm’s business tax and transaction tax teams.
Benjamin Kain, corporate finance manager at RG Corporate Finance, said: “This was a fantastic transaction to be involved in and demonstrates the value of long-term relationships. Our colleagues in Outsourced | FD have supported Nutral Solutions for a number of years, giving us a detailed understanding of the business before RG Corporate Finance became involved in advising on this management buyout transaction.
“Working alongside specialists from across RG meant we were able to provide seamless support throughout the process, drawing on expertise from Corporate Finance, Outsourced | FD and our tax teams to help the shareholders achieve their objectives. We’re delighted to have supported Alex and Ben as they begin this exciting new chapter for the business.”
Michael Williams, investment executive at NEL Fund Managers, added: “It was a real pleasure to work with the Nutral Solutions leadership team and RG Corporate Finance to provide this investment to help Alex and Ben attain full ownership of the business. We were able to progress it through our investment process in just a few weeks, which was crucial to the success of the transaction.
“The guys are now in a really strong position to accelerate growth and build on the momentum they have created in a market where regulatory requirements are becoming increasingly stringent, and demand for specialist workforce compliance and assurance solutions continues to grow across the construction and infrastructure sectors.
“For NEL, this investment reflects our continued activity across Yorkshire and the wider North, and our commitment to backing ambitious management teams with the capital they need to deliver their growth plans.”
RG Corporate Finance advised the shareholders through Benjamin Kain, Sam Shield and Carl Swansbury, supported by colleagues from RG’s Outsourced | FD and tax teams. Legal advice was provided by Wilkin Chapman Rollits, while NEL Fund Managers was advised by Hay & Kilner, with financial due diligence undertaken by UNW.
