Ep 5 – Banking on Recruitment M&As: The Entrepreneurial Journey of Shark Tank ‘Shark’ Andrew Banks

Watch the Full Episode (43 mins)

Recruitment Transactions International is the first global matching platform for buyers, investors and sellers in the recruitment and staffing industry.  In our fifth podcast, RTI Managing Partner Simon Childs speaks with former Shark Tank ‘Shark’ Andrew Banks on his unique entrepreneurial journey, from his roots as a Shakespearean actor to his successful transition to recruiter, entrepreneur and investor par excellence.

Andrew co-founded recruitment company Morgan & Banks and founded HR business process outsourcing provider, Talent2 International.  He is popularly known as one of the ‘Sharks’ on the television series Shark Tank.  After amassing massive success in building, buying, and selling recruitment, staffing, and outsourcing businesses, Andrew has come full circle and is rediscovering his love for film as a producer.

Key Talking Points:
[00:20] Introduction
[02:00] From Actor to Recruiter
– How did you transition into recruiting from being an actor and how has that served you in your career?
[03:50] Starting Morgan and Banks
– How did you and Jeff first get together at Morgan and Banks? How did you divide your roles?
– Can you share the early journey, selling the business, buying it back and going on to list it in 94?
– Challenge of being co-MDs in a listed business – how did that play out?
[14:03] Merger with TMP/Monster
– How big was Morgan and Banks at that point?
– What were the multiples like in those days (1999)
– What happened to your role and Jeff’s?
[18:35] Multiple Successful Acquisitions
– You did about 60 acquisitions – what was the size of your team, how many corporate finance houses were you dealing with?
– How did those acquisitions go? What worked? What didn’t?
– Why did you ultimately leave TMP/Monster?
[25:07] Talent2
– Why did you build that business?
– Talk us through the journey – back door listing, the value of the payroll IP, privatising it and the sale to Allegis
[32:45] 4 seasons of Shark Tank
– As James Caan did with Dragon’s Den, how did you get into that? What did you get out of it?
[35:06] Full Circle  
– How do you see the market going?
– What are staying busy with these days
– Film ventures

Watch the Highlights (1.5 mins)