Quilvest acquires Phaidon International

Financial details of the transaction remain undisclosed, though Quilvest typically writes equity cheques of €20-70m for majority or large minority stakes. Its direct investments are made from an evergreen fund, which typically has an investment period of around five years.

In the 2016/17 financial year, the company increased its underlying EBITDA by 60% year-on-year to £10.4m, with revenues growing 41% to £70m, according to publicly available documents.

Under its new ownership model, the company will pursue an international expansion strategy.

As part of the deal, Phaidon founder Adam Buck has divested his interest in the company.

Company
Headquartered in London and founded in 2004, Phaidon is a recruitment business specialising in the science, technology, engineering and mathematics (STEM) sectors. The group operates under the DSJ Global, EPM Scientific, Glocomms, LVI Associates and Selby Jennings brands. It has a headcount of around 500 and operations in 10 locations across Europe, the US and Asia.

People
Quilvest Private Equity – Jay Takefman (partner).
Phaidon International – Harry Youtan (CEO).

Advisers
Acquirer – Dechert (legal).
Company – Rothschild (corporate finance); Travers Smith (legal).

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