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Leonard Curtis acquires a majority stake in global talent network
Professional services group Leonard Curtis has acquired a majority stake in a highly regarded peer-2-peer community in the non-executive and board advisory space.
Virtualnonexecs.com specialises in connecting companies, private equity, venture capital and family office funds with exceptional non-executive and chair professionals - eliminating the high recruitment fees typically associated with these appointments.
Founded by Ian Wright in 2019, and later joined by Mike Critchley as non-executive director, the Virtualnonexecs platform operates as a SaaS business, utilising AI technology. It introduces leading talent into a range of businesses - from start-ups to PLCs - strengthening global board performance and strategic oversight.
The company has experienced rapid growth in the last five years, capitalising on its extensive talent platform and reach. In 2023 it launched the Operator Network (OpNet) – a platform that streamlines senior non-executive and chair recruitment, offering access to its 22,000 members with no “per hire” fees. It has also created a successful off-market deals platform (DealDirect).
The investment will have a positive impact on the Leonard Curtis problem-solving UK mainland and offshore operation, providing a gateway to over 22,000 non-execs, chairpersons and fractional board members and access to over 40,000 company boards worldwide.
It will also deepen the professional service expertise at Leonard Curtis, adding an important fourth ‘Business Services’ pillar to its Restructuring & Insolvency, Funding and Legal specialisms.
For the Virtualnonexecs membership and corporate partners, the relationship will facilitate valuable opportunities within the extensive network of clients and referrers at Leonard Curtis, especially its fast-growing Lifecycle community of UK accountants.
Dan Booth, CEO of Leonard Curtis said the partnership would play a pivotal role in helping to deliver the Group’s growth ambitions.
“Virtualnonexecs is an international online eco-system of high growth companies, c-suite talent and professional advisory skills which will take us to a new level.
“Ian and Mike have fostered outstanding connections between companies and non-executive talent, connections that we will find invaluable as we continue to provide innovative solutions for business owners, corporates and their advisers in the distress and non-distress sector.”
Commenting on the investment from Leonard Curtis, Ian Wright at Virtualnonexecs said: “We’ve had the privilege of working with Leonard Curtis for several years and have consistently been impressed by their expertise and approach. When it came time to find the right partner, Leonard Curtis was the perfect fit to help us further our mission of connecting exceptional talent with the businesses that need it most.”
Head of Funding at Leonard Curtis Gary Cain added: “Virtualnonexecs is a hugely respected player in its sector. They have put strong relationships at the heart of their offer – just like us – and we look forward to working with them.
“The partnership will open up new opportunities with specialist professionals outside the Group as well as hugely benefiting our Lifecycle network.”
The transaction was led by Leonard Curtis Chief Financial and Operations Officer, David Brown and supported by Jen Moore at LC Legal. M&A advice was provided by Tim Marlow, Vijay Mistry and Mark Foster of Contrado Capital with legal advice from Andy Herricks of Clough and Willis.
The deal is the latest in a line of purchases for the multi-disciplinary professional services company and the fourth since Leonard Curtis attracted investment from family investment office Arete Capital Partners in partnership with SVELLA Plc in August 2021.
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Reach Commercial Finance Limited. Registered in England no 09056450. Leonard Curtis is a trading style of Reach Commercial Finance Limited. Leonard Curtis is a broker not a lender and is independent with access to the whole of market. We may receive commissions that will vary depending on the lender, product or other permissible factors. The nature of any commission model will be confirmed to you before you proceed. Authorised and regulated by the Financial Conduct Authority FCA no. 753686. Registered with the Information Commissioner’s Office reference ZA069234
Leonard Curtis Legal Limited is a limited company, registered in England and Wales with registered number 09820186. Registered office: Riverside House, Irwell Street, Manchester M3 5EN. Leonard Curtis Legal Limited is registered with the Solicitors Regulation Authority with number 626004.