New terms at Teaching Personnel
As one of the three recruitment services based transactions that have taken place in the last few months, Arrowpoint Advisory are pleased to announce the management buy-out of Teaching Personnel.
Arrowpoint Advisory 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."