05 March 2020 | Marino Donati
Cordant Group has received significant investment from Twenty20 Capital.
As part of the deal, the capital investment business will become majority shareholder and a new investment board and chairman will be appointed for the facilities management and recruitment company.
The investment will protect more than 45,000 jobs.
Tristan Ramus, a founding partner of Twenty 20 Capital, said the investment would allow Cordant Group to "reignite its future growth as a leader in workforce supply and management".
He said: "We are committed to securing continuity of service to all of their customers and protecting the careers of 45,000-plus workers and employees. We expect it to be an exciting future for Cordant Group, who have implemented a degree of restructuring to enable the investment to be introduced, but the operational boards will remain largely the same, as will the business's commitment to be a socially responsible business."
Chris Kenneally, chief executive of Cordant Group, said: "This investment means the business can move forward at an ambitious rate and thrive in the current landscape."