Consort Group: Rethink consorts with Consort with help from BGF

Recently delisted IT recruitment firm Rethink Group (see Rethink's 'departure' confirmed) has made its first acquisition since returning to private life, that of City of London-based recruitment firm, Consort Group. Terms were not disclosed, though the Business Growth Fund, the private equity business launched in 2011 by Britain's major banks, has invested £2.5m in Rethink to facilitate the deal. It looks like BGF is in it for the long haul, anticipating further funding rounds "for organic growth and future selective acquisitions - a number of which have already been identified".Rethink had a pretty rocky time as a listed company, at one stage making the dreadful mistake of trying to incubate an enterprise content management/business intelligence consultancy under the covers (see ReThink rethinks Aiimi). Since disposing of Aiimi in late 2013 Rethink has stuck to the knitting - always the best strategy I feel.With BGF behind it, and out of the glare of the public eye, Rethink has a much better chance of establishing itself as an even more formidable player in the UK IT recruitment market.