Hartlepool United have today confirmed the new owners of the club are JPNG.
SportMail revealed on Friday night that the recruitment firm would be taking over at League Two Pools after outgoing Increased Oil Recovery confirmed they had sold the club.
The club has now confirmed the takeover - which has been approved by the Football League - is complete.
Gary Coxall has been named as the club’s new chairman, with Peter Goldberg joining the board of directors, alongside Russ Green who also remains as chief executive.
JPNG, who have offices in Essex, London and Dubai, are a specialist recruitment consultancy firm with clients in Dubai, the UAE and UK.
They specialise in construction and IT and their directors Goldberg and Coxall have been talking with Pools for several weeks.
JPNG will take over with immediate effect from IOR who had been in charge at Victoria Park for the last 18 years.
“I am delighted and extremely excited to be able to help lead Hartlepool United forward,” said Coxall.
“It’s a deal that we have been working on for the past three months and we’re really pleased that it all completed on Friday and we can start to implement our plans.
“This is a very well-run football club and we aim to build on the positive momentum created by the finish to last season and the great work done on the transfer front so far during the summer.
“JPNG will not be coming in here to make wholesale changes.
“The players that Ronnie Moore targeted before we arrived are still the players he’ll be targeting going forward.
“We’re in a great position to progress the club now and Ronnie and Sam Collins can look forward to our full support as they continue to improve the squad ahead of the new campaign.
“The fans were a huge part of what the club achieved at the end of last season and we’re keen for them to continue that brilliant support as we enter this exciting new era together.
“Never Say Die!”
Outgoing chairman Ken Hodcroft said: “I believe the club is on an excellent footing to do well in the upcoming campaign.
“The club has financial stability and we welcome JPNG to the world of football – we wish them and the club every success going forward.”
Hodcroft immediately stepped down as chairman on Friday after 18 years at the helm.
IOR have been looking for new investment for 18 months, with TMH 2014’s takeover last December collapsing within six weeks.
The proposed takeover – fronted by businessman Peter Harris – collapsed after serious concerns about their long-term plans for Pools.
The club has remained up for sale since.