Hamilton Bradshaw backs DRC Group BIMBO
James Caan's privae equity firm Hamilton Bradshaw has backed the BIMBO of medical recruitment specialist DRC Group.
The deal sees Hamilton acquire a 90% stake in the company, which includes the majority of departing founder Darren Card and finance director Riaz Dhanji's shareholdings.
Venture Structured Finance has provided an £11.5m receivables finance package to support the transaction, combined with a cashflow term loan. This combination was designed to refinance an existing facility.
DRC Group is the third largest supplier of locum doctors in the UK. Its turnover currently exceeds £50m with 2010 revenue forecasts totalling over £80m.
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