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A recruitment consultancy that supplies IT professionals to the international financial services sector has been bought by its management. London-based Aston Carter was sold to a team led by its managing director and co-founder Sean Zimdahl.

He was joined in the buy-out by fellow directors Stuart Hurwitz, Brent Harris and Justin Porritt. The team was backed by Baird Capital Partners Europe, a mid-market private equity firm, which has taken a majority shareholding in the deal following its £13 million investment.

Baird’s funding, which was managed by Chris Harper and James Benfield, was complemented by debt provided by Barclays.

Zimdahl said with Baird’s backing the management team will develop Aston Cater’s products and services.

Baird has experience in the recruitment sector following its investments in Capital Consulting, a recruitment process outsourcing specialist, Public Recruitment Group, a public sector recruitment and services company and Teams BS, a temporary staffing specialist.

Aston Carter has an office network that covers Stockholm, Dublin, Brussels and Singapore. In the year to April, it generated revenues of £78 million serving organisations such as Barclays Capital, Credit Suisse, Merrill Lynch, Morgan Stanley, KPMG, PricewaterhouseCoopers and Ernst & Young. The company was established in 1997 and today employs some 170 people.

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