Recruitment - Llambias snapped up in BIMBO sale

Douglas Llambias, a leading member of the English ICA and one of the best known names in recruitment consultancy, has sold his group of agencies, comprising Douglas Llambias Associates (DLA), La Creme and Buckmans.

The sale, a Buy In, Management Buy Out (BIMBO), was to a team comprising DLA’s managing partner Bruce Page, chartered accountant and former merchant banker Michael Gatenby and a former president of Saatchi & Saatchi, Richard Humphreys.

The DLA Group was founded more than 20 years ago by Llambias and his partner Renee Cohen. For the year ending December 1997, the group made a profit before tax of #1.6m on sales of #8.5m. Llambias will continue to own a 10% equity stake in the group and will act as a non-executive director.

Llambias will also continue as chief executive of the Business Exchange, which is involved in the purchase and sale of private companies, and as chairman of Douglas Llambias and Co, which provides specialist mergers and acquisitions services, which are not part of the sale.

In a written statement Llambias said: ‘Renee Cohen and I turned down other opportunities as this deal provides the best opportunities for further growth whilst maintaining the international reputation for excellence.’