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Investec backs Odgers Berndtson partial MBO

Investec backs Odgers Berndtson partial MBO

Investec Private Bank Growth & Acquisition Finance (Investec) has provided a revolving finance facility and acquisition finance term loan to allow the management of Odgers Berndtson, one of the UK's leading headhunting firms, to acquire a majority (50.5%) interest in the business from its parent company OPD Group plc (OPD). OPD will continue to hold the remaining interest in the business.

The deal involves the management and other relevant shareholders paying OPD a total of 16m.

James Cullen, Investec Private Bank commented, "This has many of our key deal elements including providing value to vendors and supporting future value creation for shareholders and employees. Odgers Berndtson is a compelling business with a tremendous brand. We are delighted to provide our support to an outstanding management team that is a perfect fit with our strategy of supporting the entrepreneurial class."

Richard Boggis-Rolfe, CEO of Odgers Berndtson, said: Since the acquisition of Odgers Berndtson by OPD in 2005, we have exceeded our performance expectations. Now, as part of a commitment to developing Odgers Berndtsons' business in the long term, we are keen to create an equity interest for our management and staff. Investec understands the needs of an entrepreneurial firm and we see Investec as the ideal partner to support the future development of our business."

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