Moulton backs fundraising by Norman Broadbent

By DAILY MAIL REPORTER
Updated:

 

Private equity investor Jon Moulton yesterday backed a £1.75m fundraising by City headhunter Norman Broadbent.

Moulton and his Irish associate Pierce Casey - who took control of the company a year ago - each bought just over £250,000 of new shares as part of the placing.

Casey, executive chairman of the recruitment firm, said the money raised in the share placing would be used to help grow the company.

Broadbent sold 2,692,308 at 65p each to its directors. It came as Broadbent (unchanged at 68p) swung back into the black with profits of £1m in 2010 against a loss of £3.45m the previous year.

'2010 has been a transformational year for Norman Broadbent,' said Casey. 'the outlook for 2011 as a whole remains positive.'

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