Key Capital Partners exits Hallam Medical

KCP backed Hallam in April 2014 with a £3.3m investment. The financing was used to crystallise some of the value the founding shareholders had built and provide working capital to accelerate the growth of the business.

This is the second exit made by KCP in October 2020, following the sale of technology education and recruitment provider Sparta Global, acquired by Inflexion Private Equity earlier this month. KCP generated a 7x return from the exit of Sparta.

With offices in Leeds and London, KCP makes equity investments of £3-15m in buyouts and growth capital deals, to support the expansion of UK-based companies operating in a wide variety of sectors. The GP is currently investing its eighth fund, which closed on £65m in November 2016.

Company
Founded in 2007 and based in Sheffield, Hallam Medical is a healthcare staffing business that supplies the NHS and private healthcare providers with temporary staff, including qualified nurses, advanced nurse practitioners, community care specialists and telephone triage clinical advisers.

The company generated revenues of £16.7m and gross profit of £3.4m in the year ending 30 April 2019.

People
Key Capital Partners – Philip Duquenoy (partner).
Hallam Medical – Deborah McCain (CEO).

Advisers
Acquirer – BHP Corporate Finance (corporate finance); Ward Hadaway (legal).

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