Specialist M&A advisory
Selling, valuing or preparing a recruitment business requires advice built for the sector.
Exit Advisory Group advises recruitment, staffing and offshoring business owners across Australia and New Zealand on valuations, exit planning and confidential business sales. Rod Hore and Richard Hayward are Exit Advisory Group’s sector M&A specialists, with careers built in recruitment M&A, working with our national transaction capability led by Simon Bedard, National Chair of the Australian Institute of Business Brokers. We advise on exits; we do not operate a recruitment business, so there is no conflict with your clients or your candidates. Read about the merger.
Start where it suits you
How can we help you sell a recruitment business?
What type of recruitment business do you have?
See if your business fits our client profile.
Who we work withWho will advise me?
Meet the specialist advisers leading your engagement.
Meet the teamHow does the process work?
A confidential, four-step process, start to settlement.
See the processIs my business ready to sell?
See what a valuation and readiness review covers before you go to market.
What we deliverWho we work with
What types of recruitment businesses does Exit Advisory Group advise on selling?
Privately owned recruitment, staffing and offshoring businesses across Australia and New Zealand, typically with profit levels of $1M and above, where the owner is considering a full or partial exit.
Specialist recruitment agencies
Permanent and contract placement firms focused on specific sectors, including healthcare, ICT, finance, engineering, mining and legal.
Labour hire and temp staffing
Businesses with active contract or casual workforce solutions, including multi-state operations and enterprise contracts.
Executive search firms
Boutique or mid-market search practices where client relationships and consultant track records are the primary assets.
Multi-sector agencies
Established agencies operating across multiple sectors, often with multiple offices and a mixed perm and temp revenue model.
RPO and MSP providers
Firms delivering recruitment process outsourcing or managed service programmes to enterprise clients under ongoing contracts.
Offshore and nearshore staffing
Businesses providing offshore recruitment, nearshore delivery, managed services or business process outsourcing to Australian and international clients.
Why it matters
Why is selling a recruitment business different from selling any other business?
When business owners consider a sale, merger, acquisition or equity event, the risk profile is one that generalist M&A advisers routinely underestimate, and sophisticated buyers examine closely in due diligence.
Revenue often depends on key individual relationships, the leadership team is scrutinised, and buyers look hard at client concentration, staff retention and billing revenue models. A valuation that does not account for these dynamics will either undervalue the business or cause a deal to stall.
Getting advice from advisers who understand how buyers assess recruitment businesses can materially affect valuation, negotiation strategy and the likelihood of a transaction completing.
Exit Advisory Group is an Australian M&A advisory firm that brings dedicated specialist capability to recruitment, staffing and offshoring business owners, led by Rod Hore and Richard Hayward, whose careers have been built in this sector. Read about the merger.
The team
Who will advise you on selling your recruitment business?
Your engagement is led by advisers who have spent their careers in the recruitment sector, supported by Exit Advisory Group’s national M&A practice.
Rod Hore
Head of Recruitment, Staffing & Offshoring
A 25-year veteran of Australian and international corporate advisory. Rod founded HHMC in 1999, building it into one of the most recognised advisory names in the ANZ staffing and recruitment sector. With strong connections internationally, his advice is sought by agencies seeking change or growth, and by owners considering valuation and equity transactions.
25-year veteranFull profile
Simon Bedard
Managing Director
Simon leads Exit Advisory Group's M&A advisory practice. He is the National Chair of the Australian Institute of Business Brokers (AIBB), a Registered Business Valuer (RBV), and the author of Exit Like an Expert (2026). Simon's role ensures every engagement is backed by structured buyer identification, negotiation discipline and transaction management through to completion.
National Chair, Australian Institute of Business BrokersFull profile
Richard Hayward
Senior Adviser
Richard has been actively involved in recruitment industry M&A since joining HHMC in 2003, with more than 30 years of continuous involvement in the sector. He has been lead consultant on more than 60 recruitment-sector equity transactions on both the buy and sell side, including international projects from Australia and offshore transactions in Canada and the United Kingdom.
60+ equity transactionsFull profile
Where a valuation basis is stated, our valuations are signed by a Registered Business Valuer (RBV) and prepared in accordance with the International Valuation Standards (IVS).
What makes Exit Advisory Group different for recruitment, staffing and offshoring M&A?
Few, if any, advisory firms in Australia combine dedicated recruitment sector experience, national transaction capability and international buyer reach inside a single confidential engagement.
Deep M&A experience in recruitment, staffing and offshoring
Rod Hore and Richard Hayward have spent their advisory careers in the recruitment industry. Rod founded HHMC in 1999. Richard has been lead consultant on more than 60 recruitment-sector equity transactions on both sides of the deal.
International buyer reach built over decades
Completed transactions with buyers across the UK and Europe, Asia and North America, alongside domestic acquirers across Australia and New Zealand.
A confidential process, not a marketplace listing
Your business is never advertised publicly. We approach a curated group of qualified buyers under confidentiality, protecting your staff, your clients and your negotiations.
National transaction capability behind the sector expertise
Simon Bedard, National Chair of the Australian Institute of Business Brokers, leads Exit Advisory Group's broader M&A practice, so you have sector knowledge and institutional transaction rigour together.
Research-backed understanding of the market
HHMC's own research, including its Business Intentions Survey, gives a longitudinal view of valuation trends, buyer activity and sector conditions across the ANZ recruitment market that a generalist adviser cannot replicate.
Proof
A track record in recruitment M&A
- 25 years
- specialist sector experience
- 60+
- recruitment-sector equity transactions
- UK, Europe, Asia & North America
- international buyer reach
Our market view is grounded in HHMC’s Business Intentions Survey, a longitudinal data set tracking recruitment M&A across Australia and New Zealand. It is proprietary research that generalist advisers do not have.
Buyer landscape
Who buys recruitment businesses in Australia?
The buyer pool for Australian recruitment businesses includes domestic and international strategic acquirers, private equity firms and consolidators. In over 90% of Exit Advisory Group’s transactions, the buyer was someone the seller had never previously encountered. International buyers often pay strongly for well-run ANZ businesses where there is a clear strategic fit, capable leadership and a credible growth platform.
Private equity firms build platform investments in the staffing sector. Domestic and international strategic acquirers expand their service or geographic coverage. Consolidators look for multi-sector capability. HHMC’s research across Australia and New Zealand has tracked growing international buyer interest, including completed transactions with buyers from the UK and Europe, Asia and North America.
The right acquirer is often not the first name that comes to mind. A structured, confidential process, run by advisers with active buyer relationships, is what determines whether the right buyer is found, and what they are willing to pay.
The process
What does selling your recruitment business involve?
Every engagement starts with a conversation, not a commitment. Six to nine months is a typical transaction time, though we have seen a sale complete in as little as 60 days, and others take up to 18 months. Businesses that invest in preparation before going to market tend to complete faster and at stronger valuations.
Valuation and readiness review
We establish what the business is worth today on a recruitment-specific basis, and where the value and the risks sit. Valuations are prepared in accordance with the International Valuation Standards (IVS).
Preparation
Often where the most value is created. We work on the issues buyers scrutinise in this sector, including client concentration, key-person reliance, contractor-book structure and staff retention.
Confidential market approach
A structured approach to a curated pool of qualified buyers under confidentiality, rather than listing the business on a marketplace. Your staff, clients and competitors do not need to know.
Negotiation and settlement
We manage the negotiation, due diligence and completion, so the deal that closes reflects what you have actually built.
How Exit Advisory Group can help you
What Exit Advisory Group delivers
- A recruitment-specific valuation and readiness review, prepared in accordance with the International Valuation Standards (IVS)
- A preparation plan targeting the value drivers and risks buyers examine in staffing and recruitment deals
- A confidential, curated buyer campaign with access to domestic and international acquirers, including HHMC's international relationships
- Senior-led negotiation, due-diligence and settlement support through to completion
- Access to HHMC's Business Intentions Survey market context and the Exit Like an Expert framework
Book a confidential, no-obligation conversation
A private conversation with a senior adviser who knows the sector. We talk through your situation, what your business is worth, and the right next step. Everything you share stays strictly confidential.
Book a confidential callConfidential · No obligation · Speak directly with a senior adviser
Every conversation is strictly confidential, and there is no obligation. You work directly with Rod Hore, Richard Hayward and Simon Bedard, the advisers whose names are on this page, never a junior team.
FAQ
Selling a recruitment business: common questions
Still have questions? Book a confidential conversation with a senior adviser.
How long does it take to sell a recruitment business in Australia?
Six to nine months is typical, but there are exceptions. We have seen a sale completed in as little as 60 days, and others take up to 18 months. The timeline depends on how prepared the business is when the process begins: businesses that invest in preparation before going to market tend to complete faster and at stronger valuations than those that go to market without it. Exit Advisory Group recommends starting the preparation conversation well before you intend to transact. Read more in Exit Like an Expert.
What affects the valuation of a recruitment business?
Recruitment businesses are valued on a multiple of EBITDA or net profit, but the multiple applied depends heavily on sector-specific risk factors. Client concentration, key-person dependency, contractor-book quality, billing model (temp vs perm vs retained), and the strength of the management team all affect what a buyer is willing to pay. A business with strong recurring revenue, diversified clients, and a capable leadership team will attract a materially higher multiple than one where revenue is tied to one or two key relationships. We value the business on a recruitment-specific basis, prepared in accordance with the International Valuation Standards (IVS). In addition, in a people-centric business like recruitment, the structure of a deal influences the risk of the transaction to the buyer and seller, and Exit Advisory Group works with the seller to develop a deal that meets their requirements.
Will my staff and clients find out if I am considering a sale?
Not through Exit Advisory Group's process. All buyer approaches are made under strict confidentiality. Buyers sign non-disclosure agreements before receiving any information about your business. The identity of your business is not disclosed until the buyer has been qualified and confidentiality is in place. Your staff, your clients, and your competitors do not need to know you are exploring a sale.
Do I need to prepare my recruitment business before going to market?
Yes, and this is where most value is either created or lost. Exit Advisory Group's research shows that 81% of business sellers wished they had spent more time preparing, and 61% believed a lack of preparation directly cost them money. In the recruitment sector specifically, addressing client concentration, documenting processes, and reducing key-person risk before going to market can meaningfully increase both the price achieved and the likelihood of the deal completing.
What is the difference between a business broker and a specialist M&A adviser for a recruitment business?
A business broker typically lists businesses for sale and waits for buyers to approach. A specialist M&A adviser like Exit Advisory Group takes a proactive approach, identifying and approaching the right buyer pool on your behalf, managing the negotiation, and guiding the transaction to settlement. For recruitment businesses in particular, the adviser's knowledge of sector-specific valuation drivers and their existing relationships with likely acquirers makes a significant difference to the outcome.
Does Exit Advisory Group work with recruitment businesses across all of Australia?
Yes. Exit Advisory Group works with recruitment business owners across Australia and New Zealand, with particular depth in New South Wales, Victoria, and Queensland. Rod Hore and Richard Hayward also bring established and successful relationships with buyers operating across the UK and Europe, Asia and North America, including completed transactions in Canada.
Have a confidential conversation about selling your recruitment business
A no-obligation conversation with a senior adviser who knows the sector. We will talk through your situation, what your business is worth, and the right next step.