It ceased trading on 1 November, the same day as Adare International appointed former Action for Employment boss Andrew Dutton as its new chief executive.
Adare acquired rival £50m-turnover BMC in May for an undisclosed sum, giving the group total sales of £240m. It has since set about integrating the two businesses. BMC's former chief executive, Catherine Burke, left her role four months after the company was acquired.
Adare also acquired Nottingham-based Polestar Applied Solutions 10 weeks after the BMC purchase.
Adare Group chief executive Robert Whiteside said that just under £10m of Banner’s turnover will now be taken on by Adare SEC and the other approximate £40m will be taken on by Adare International.
Whiteside said: “In a relatively short period of time we have gone from a single-product, single-market sub-£50m business to a global multi-service business with revenues of £170m, so we knew that we had to create more bandwidth and put a different structure in place to reflect the change in the business.
“This was always part of the plan as we led towards acquiring Banner. People talk about integration as if it is a piece of Lego, you just bolt one piece to another and, hey-ho, you’ve got a larger business, but there is system integration to take place, novation of customer contracts and employee issues that we have been addressing.”
All four BMC locations have been retained. Its Guildford head office is now part of Adare SEC and the other three, in Hinckley, Swindon and London, are now part of Adare International.
Adare International managing director Steve Ueckermann will remain in his role and no other appointments have been made.
Previously managing director of Nottingham Rehab Supplies and chief operating officer of business process outsourcer Vertex, Dutton was recruited for the role after he was introduced to the business through a "mutual connection" while doing some private equity work.
He said: “I think I can look at how the market is established and think through how to transform the way the business is developed to enable improved services down to clients and, of course, drive improved profitability for business.”
Whiteside said: “Andrew has been involved in large, complex businesses and is an all-round experienced campaigner across a number of sectors. Combined with Steve [Ueckermann] and the rest of the team the sum of the components makes quite a powerful management team.”
Adare now employs around 1,100 people in 36 locations, some of which are outside the UK. Around two thirds of its turnover is made up by Adare International.
It has been awarded a number of big contracts this year, including multimillion-pound deals for N Brown and Domestic & General.
