The Leeds investor that backed Starfish Search at launch in 2019 is putting more money in as the 40-strong search firm looks at new areas.
Leeds investor Jigsaw Equity has put more money into Starfish Search, the executive search and interim firm it has backed since its launch in 2019. The size of the investment has not been disclosed. Jigsaw co-founder Michael Goodwin joins the Starfish board as a non-executive director, alongside his father and fellow co-founder Graham Goodwin, who has chaired the business from the start. The Starfish Search Leeds office at Airedale House on Albion Street is the company’s registered base, with a second office in London.
Why This Matters For Leeds
Leeds has a recruitment-specialist investor willing to back the same firm twice rather than spread money thinly. For recruitment founders in the city, it offers a local alternative to traditional private equity, with experienced operators on the board. Starfish's plans to explore new areas could bring more senior search work to its Albion Street team.
How the new investment will be used
Starfish recruits senior leaders for civil society and public sector organisations and for purpose-driven businesses. It was founded by chief executive Juliet Taylor, employs 40 people and says it has made more than 1,950 senior leadership appointments since launch. Clients named by the company include Co-op Group, Cancer Research UK, the British Red Cross, Manchester and Birmingham city councils and the British Chambers of Commerce.
Juliet Taylor said the deal deepens a partnership that dates back to the firm’s first day. “This new investment will give Starfish the backing to grow even further in our core markets and investigate expansion into new areas,” she said. “With Michael joining our board as a non-executive director, Starfish also benefits from an important fresh perspective.”
Legal advice on the deal was provided by James Fawcett of Leeds law firm Gordons, which also advised AO on its takeover of Jessops this week.
“Putting more into a business you already know well is one of the easier decisions an investor gets to make.”
Graham Goodwin, Chair, Starfish Search
Starfish Search Leeds roots and Jigsaw's approach
Jigsaw Equity was set up by Michael Goodwin, who spent nearly a decade in mergers and acquisitions advisory, with his father Graham Goodwin. Graham founded executive search firm GatenbySanderson and sold it to a private equity fund in 2014. It specialises in recruitment businesses, backing founders from launch through to exit. Starfish was its first investment and it co-founded Praeva Partners, a younger search firm, within the past year.
Michael Goodwin said the approach was to back fewer companies and stay closely involved. “We’d rather know a few businesses really well than a lot of them a little,” he said. “Starfish is proof of just how well that works over time.”
Graham Goodwin said Starfish had become one of the most respected names in public sector and not-for-profit search. “We’ve seen how the team performs in good markets and tough ones, and it has proven its capability and resilience time and again,” he said.
Both the Starfish Search Leeds business and its investor are registered in the city. The deal adds to a busy year for investment in Leeds companies, mapped in our guide to private equity in Leeds.
- Learn more about Starfish Search: starfishsearch.com
Sources: Companies House, Starfish Search Limited company record; Jigsaw Equity, Starfish Search track record page; Jigsaw Equity, team page
