De Poel
Founded in 2001, de Poel is a recruitment consultancy supplying temporary workers to large blue chip employers, including the NHS, banks and supermarkets.
Client websiteSpecs
- Date: Sep 16
- Industry: Recruitment
- Location: North West
- Type: MBO
- Revenue: £778m
- Fund: Fund I
Funding Solution
TDC’s £12m term loan in September 2016 supported a vendor-backed MBO alongside a working capital facility provided by Santander.
TDC value add
Prior to TDC investment, the shareholders had received offers of around £60m for a full exit. The founder chose to pursue a vendor-backed MBO, funded by TDC to build value further. The newly incentivised management made huge steps during the following 18 months, with a new Chairman, Finance Director and Commercial Director appointed to strengthen the team. A new sales process in late 2017 yielded a sale to Bain Capital-backed US trade player MSX International for more than £100m.
I would like to thank TDC for their support, which ultimately allowed us to attract significant investment from a major US private equity house.
Andrew Preston, De Poel
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