KCP exits Siamo Group

The sale ends a holding period of 11 years for KCP, which acquired a majority stake in the business when it backed managing director Tony Bucciero in a management buyout in 2007. The transaction value was not disclosed, but KCP makes equity investments between £3-15m.

The GP made the divestment from its £100m eponymous buyout fund, Key Capital Partners, which held a final close in August 2007 and was 98% deployed by March 2013, according to Unquote Data.

The company has increased its sales from £16m to more than £100m since KCP's original investment, according to a press release. The GP said the growth was driven both organically and by acquisitions.

Company
Siamo was founded in 1984 as Templine Recruitment and was rebranded to Siamo under KCP's ownership. The company is headquartered in Birmingham and operators at 50 locations across the UK, providing permanent and temporary recruitment services to its clients in the retail, e-commerce and manufacturing sectors.

People
Key Capital Partners – Owen Trotter (managing partner).
Siamo Group – Tony Bucciero (managing director).

Advisers
Company – Ward Hadaway (legal); Dains (corporate finance).
Debt – Freeths (legal); Orbis (financial due diligence).

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• Topics
• Exits
• UK / Ireland
• Support services
• United Kingdom
• Management buy-back