RJD banks three times money on Teaching Personnel exit
Published Monday, 26 July 2010 in Mid Market.
RJD has sold Teaching Personnel RJD has banked a three times return on the teacher recruitment business
RJD Partners has sold Teaching Personnel, the teacher recruitment business, to Graphite Capital in a £45m (€53.7m) deal. RJD has banked a three times money return from the sale.
RJD first invested in Teaching Personnel in 2007 when it backed a £24m management buyout of the company, which was led by managing director Mark Weavis at the time.
The business was founded in 1996 and provides supply teachers, teaching assistants and nursery nurses, on short- and long-term placements, to schools throughout England and Wales.
During RJD’s period of ownership, Teaching Personnel was transformed from an exclusively call centre-based service into a company with branch network and in-house IT system called Evolve.
In March last year, Weavis became non-executive chairman of the company and John Bowman joined as managing director. Bowman will continue to lead the business following the Graphite deal.
RJD Partners was advised by Clearwater Corporate Finance, Hammonds and HMT. The exit is the first from RJD’s second fund: RJD Private Equity Fund II.
Picture: Source
