Field Fisher Waterhouse advises international recruitment agency on franchising in Middle East
30 May 2007
Field Fisher Waterhouse LLP advised MRI Worldwide Network Ltd, a
master licencee of Management Recruiters International, Inc. on
entering into a Regional Development Agreement with MRI Middle East
Group.
Management Recruiters International, Inc. is one of the world’s
largest search and recruitment organisations with offices in over
35 countries. It is a subsidiary of staffing and outsourcing leader
CDI Corp, listed on the New York Stock Exchange.
MRI Middle East Group currently trades from two offices in the
region, Kuwait and Bahrain, and its office in Beirut, Lebanon, is
preparing to reopen next month.
This new agreement sees MRI Middle East Group receive the
exclusive development rights for Oman, Qatar and Saudi Arabia,
where offices will open in Riyadh, Jeddah and Damman. By the end of
next year, it is planned that eight offices will be trading in the
region.
MRI Middle East Group current ownership is chaired by Sheikh
Mubarak Al-Abdullah Al-Sabah with Jacques Ashkar as CEO and
Regional Managing Director. Sheikh Mubarak is a prominent member of
the Kuwaiti royal family and a successful businessman.
Field Fisher Waterhouse’s Head of Franchising Mark Abell led on the
deal, assisted by senior solicitor Lewis Cohen, working closely
with the CEO of MRI Worldwide Network Ltd, Steve Mills. This
follows the firm advising MRI Worldwide Network Ltd (MRIWWN) on the
appointment of a new Master Franchisee to develop the business in
Latin America.
Field Fisher Waterhouse has a detailed knowledge of the
franchising market in the Middle East, and this deal reflects the
strength of the firm’s franchising
group and its international capability. The firm has advised
a large number of companies on their investments into the Middle
East, including Hamleys, H&M Hennes Mauritz and YO! Sushi.
Mark Abell
said: “This is the tenth deal that we have done in the Middle East
in the last 12 months. It is the focus of a great deal of interest
from European and US retailers, and food and beverage businesses.
However, there are few professional service companies that have a
sufficiently robust business model to make it there. MRI Worldwide
Network is one of the exceptions. It is a truly international
business and should do well there. The nature of MRIWWN's business
meant that there were a good deal of difficult technical and
structural issues that had to be dealt with in order to enable the
transaction to be done.”
Steve Mills, CEO of MRIWWN, said: “It was a complex deal, with
more twists and turns than the Corkscrew at Alton Towers!
Fortunately Mark Abell and Lewis Cohen had the legal expertise and
commercial experience necessary to help us close this complicated
deal efficiently.”
For further press information please contact:
Louise Eckersley, PR Executive on +44 (0)20 7861 4120
Scarlett Yianni, PR Assistant on +44 (0)20 7861 4795