New Terms at Teaching Personnel
July 2007
As one of the three recruitment services based transactions that have taken place in the last few months, Livingstone are pleased to announce the management buy-out of Teaching Personnel.
Livingstone advised mid-market private equity house RJD Partners on the £24 million secondary management buy-out (MBO) of education recruitment consultancy, Teaching Personnel, a leading provider of teachers, teaching assistants and nursery nurses to schools through a network of 23 branches across England and Wales.
The business was founded in 1996, growing rapidly as the demand for supply teachers increased. In 2001, the business was sold to private equity investor, Barclays Private Equity. Under Mark Weavis, who was brought in as Managing Director in 2004, the business moved away from a national call centre model to a branch-based strategy – a strategic shift which underpinned renewed growth.
The secondary MBO has been financed through a combination of management reinvestment, funds managed by RJD and £14 million of banking facilities provided by Yorkshire Bank.
Frank Bulman at RJD comments: “From the initial meeting with Teaching Personnel, we recognised a strong and committed management team whom we were keen to back. The company is a significant player in a market that is set for steady growth.”
For further information contact:
Tom Phipps
T: +44 20 7484 4717
E: phipps@livingstonepartners.co.uk
