Nova Capital sells DirectorBank in management buy-back

Under Nova's tenure, the business has expanded its remit, from an initial focus on private equity houses engaged in buyouts to include the wider mid-market across the UK and Germany. Non-PE assignments accounted for 64% of the company's revenue in the year ending June 2016.

DirectorBank also acquired competitor Hanson Green in 2008 and eventually merged with the business in 2016, having previously operated as two independent entities.

The latest transaction was overseen by managing director Graham Jones, who will lead the business alongside directors Dorothea Kronenberghs, James Searby, George Heppenstall and Simon Thomas.

Enterprise Ventures provided a loan package to support the deal.

Previous funding
Nova acquired a majority stake in DirectorBank in August 2006, in a deal valuing the company at £4.3m.

Company
Founded in 1998 and headquartered in London, DirectorBank is a recruitment agency specialised in sourcing board-level and senior-level professionals for private-equity-owned and AIM-listed companies. Its clients include LDC, Vitruvian, 3i and Advent International.

DirectorBank generated a turnover of £2.3m in the year ending June 2016, according to publicly available documents, with adjusted EBITDA of around £200,000.

People
DirectorBank – Graham Jones (managing director).

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