Rcapital, the special situations firm, has completed three exits in one week.
The firm has sold Cluttons’ Dubai-based Middle East business to Savills, having bought the property consultancy in May last year.
It also sold Coaching Academy, Europe’s longest established coach training organisation in qualifications including life and business coaching, to the company’s managing director Bev James.
In a third deal, Rcapital completed the sale of Innervate Technology Solutions, an IT services and consulting business that was established when Rcapital acquired former US-owned subsidiary Ciber UK 12 months ago.
“The deals announced today are testament to Rcapital’s philosophy of working closely with the management teams of businesses we invest in to help them navigate complex situations, helping them develop and secure long-term growth,” said Phil Emmerson, chief operating officer at Rcapital.
“Logistically, it’s been no small feat”
Speaking with Real Deals, Emmerson added that exiting three deals in one week should be considered a significant logistical achievement for a firm of Rcapital’s size. “We are a relatively small team, so these deals illustrate our strength at getting businesses ready for sale,” he said.
“In the turn around space we operate in, having an open dialogue with management teams is vital. We think we’re good people to work with, and we ensure our goals and those of mangers are aligned throughout the journey.”
Emmerson revealed that no corporate finance was used to secure any of Rcpaital’s three latest exits, with the firm identifying buyers amongst its own network in each case.
Opportunities in retail
Emmerson acknowledged that there’d been many new and exciting opportunities in the retail sector for private equity investors so far in 2018.
Rcapital was one firm closely monitoring Poundland’s situation when the high street retailer was at risk of being sold off at the start of the year. And, despite describing Rcapital as “sector agnostic”, Emmerson hinted that the casual dining space could be his next area of potential interest.
He went on to say: “There’s nothing else that we’re currently closing in on, but we’re always mindful of where businesses are in their lifecycle. In our world things move quickly, so we could easily have another exit in a few months. We’re open to approaches.”