UNQUOTE

3i sells stake in recruitment firm

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3i has realised its minority stake in recruitment consultancy RK Group Ltd as part of the sale of RK Group Ltd to Quantica Plc, the FTSE listed recruitment and training group, in a ТЃ13m deal. 3i will receive proceeds of ТЃ3.6m, which represents a money multiple of 13.5x and an IRR of 30%.

RK Group was founded in 1993 by ex Michael Page board director Richard Robinson. The company consists of six specialist consultancies focused on executive search and selection and the placement of permanent and temporary staff in the finance, logistics, outsourcing and managed services sectors. The company employs over 100 staff across 10 offices in the North West, Midlands and South East of England.

3i originally backed the start-up of RK Group in 1993 and invested again in 1998. 3i also introduced John Watkins as non-executive director. Since 3i’s investment, the business has performed very strongly. It has grown its network of branches specialising in the recruitment and career management of qualified and part qualified accountancy staff and more recently has developed a specialist recruitment presence in the supply chain and logistics sectors.

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