Headhunter sells out in £3.6m deal

FORMER journalist Carol Leonard is selling her Leonard Hull headhunting business to Whitehead Mann in a deal worth up to £3.6m.

Leonard, 45, began her career in local newspapers, later moving to London's Evening Standard and then The Times. She left journalism 11 years ago and founded her own business in 1998.

There is an initial cash payment of £1m plus £600,000 in convertible loan notes. Up to a further £2m depends on profits over the next three years.

Whitehead Mann chief executive Stephen Lawrence said: 'Carol is one of the most highly regarded names in the business and we are delighted to have her team on board.'

There has been an increase in enquiries at Whitehead Mann in recent months and Lawrence expects the group to produce profits in line with forecasts for the year just ended, at about £7.5m excluding exceptionals.