Inflexion taps Houlihan Lokey to review options for Sparta Global

The UK-based technology and training services provider is expected to be marketed off EBITDA in the region of GBP 15m in the event of a formal auction, according to two of the sources. However, Inflexion has not yet decided on the timing of a process, and a near-term exit is not guaranteed to materialise, the third source said.

In the year ended 30 April 2021, Sparta Global booked gross profit of GBP 6m against turnover of GBP 12.8m, representing a margin of nearly 47%, its most recently published filings show. The company's EBITDA (before exceptionals) totalled GBP 2.2m over the same period, according to the same filings.

Investec is an existing lender to Sparta Global, having provided debt financing via its direct lending arm to fund Inflexion's leveraged buyout of the organisation.

Inflexion acquired Sparta Global in October 2020, when GCA Altium – which later became part of Houlihan Lokey – advised former owner Key Capital Partners on its exit from the business.

Sparta Global operates a so-called ‘attract, train, deploy' business model, under which the company sources graduate talent, trains candidates in a technology field, then places them in roles within relevant employers. Employment areas include data engineering, software engineering, development operations, and business analysis.

Sparta Global has partnered with more than 80 universities across the UK and Ireland to pipeline emerging technology talent, according to its website.

Inflexion and Houlihan Lokey declined to comment.

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• Topics
• Exits
• UK / Ireland
• Consumer
• Mergermarket
• Inflexion Private Equity
• Houlihan Lokey