
Graphite backs MBO of Human Capital
Graphite Capital has backed the management buyout of recruitment company Human Capital Investment Group.
The company's management team, led by CEO Tim Cook, will reinvest some of the sales proceeds to retain a stake in the business.
Under Graphite's stewardship, the business will look to make acquisitions and launch new brands.
The deal is in line with Graphite's previous experience in the recruitment sector; the GP previously owned Alexander Mann, a talent acquisition firm, and Education Personnel, a staffing service for schools.
unquote" assessed the viability of investment in the recruitment sector earlier this year. To read our analysis, click here.
Debt
A debt package to support the deal was provided by HSBC and RBS.
Company
Founded in 2007 and based in London, Human Capital is a diversified recruitment company for specialist areas in public and private sectors in the UK. The firm trades under a number of brands focused on areas including social care, health, construction, infrastructure and engineering.
Human Capital has grown acquisitively and through new brand launches. It has 14 UK offices and employs 510 staff.
Revenues reached £217m for the year to September 2014 – a 28% increase on the previous year.
People
Graphite senior partner Mike Tilbury, investment director Humphrey Baker, partner Mudassir Khan, investment manager Liam McGivern, and senior partner Simon ffitch worked on the deal for the GP.
Advisers
Equity – RW Baird, David Silver, Peter Augar (Corporate finance); Macfarlanes, Ian Martin, Emmie Jones, Bronwen Jones (Legal); Wyvern Partners, Mike Barnes (Corporate finance); KPMG, Phil Abram, John Moth (Financial due diligence); PwC, Euan Cameron, Charlotte Mitchell, Pier Messineo (Commercial due diligence); GK Strategy, Luke Kennedy, Tom King (Other due diligence); Arthur J Gallagher, George Minoprio (Insurance due diligence).
Management – Catalyst, Mark Farlow, Edward Lynch (Corporate finance); Nabarro, Graham Muir, Alasdair Steele (Legal).
Company – SunTrust RH, Larry Deangelo, Thomas Bailey (Corpoate finance); DAC Beachcroft, Steven Raize, Martyn Green (Legal); PwC, James Arden-Davis, Zac Ladha (Financial due diligence).
Latest News
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme
Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote
Permira to take Ergomed private for GBP 703m
Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO
Partners Group to release IMs for Civica sale in mid-September
Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017
Change of mind: Sponsors take to de-listing their own assets
EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater