FPE's Kallidus acquires Advorto

The GP provided fresh funding to support the acquisition alongside additional capital from RBS.

The acquisition means the consolidated group will be in a position to offer HR management software throughout the entire employment life cycle.

The transaction comes a year after RBS's corporate transactions team provided Kallidus with funding to support its product development.

FPE (then known as FF&P Private Equity) acquired a majority stake in Kallidus via an MBO in February 2015. As part of the deal, the GP acquired a 34% stake from Westbridge Capital.

Company
Founded in 1998 and headquartered in London, Advorto is a provider of recruitment software. Its clients include Lloyds Banking Group, the NHS and TSB.

People
FPE Capital – Henry Sallitt (managing partner).
Kallidus – Rob Caul (CEO).
Advorto – Michael McClelland (CEO).

Advisers
Company – Charles Russell Speechlys (legal); PKF (financial due diligence); Software Improvement Group (operational due diligence).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• Build-up