NBGI Gets Big Return From Ochre House
NBGI Gets Big Return From Ochre House
NBGI Private Equity (“NBGIPE”) is delighted to announce that it has sold its majority stake in Ochre House Limited (“Ochre House”) to US based, Pinstripe, Inc. backed by Accel-KKR , which delivers a 4x return on NBGIPE’s original investment. The sale will result in the combined business becoming the largest independent provider of global recruitment process outsourcing and talent management solutions.
NBGIPE backed the 2006 buyout of Ochre House, with Chris Herrmannsen as CEO, which was then a group of six disparate recruitment businesses. The strategy was to grow those businesses using a shared central function and create value through a staged exit strategy. In 2011 the last of the non-core businesses were sold, allowing the management team to focus on the high value and fast growing talent management business. This growth was accelerated in early 2012 when NBGIPE invested further funds to support the acquisition of Taaheed and Carmichael Fisher in the Middle East - the two leading talent management businesses - to create a significant global RPO player.
Belinda Berkeley, NBGI Private Equity’s Investor Director of Ochre House, comments:
“We are delighted to have worked with an exceptional and highly committed management team and played a role in building Ochre House into a leading multi-regional RPO player. It is credit to management that they kept the business focused on the high value strategic hiring demands of blue chip clients, a market which has continued to grow ahead of the broader recruitment market. This investment shows our commitment to investing in companies with compelling value propositions.”
Ochre House has rapidly grown to become the leading provider of talent management services in the UK, Continental Europe and the Middle East and represents a significant EMEA platform for the US buyer, Pinstripe. Ochre House and Pinstripe have been working in partnership since 2009 to provide global solutions, and the combination of the businesses is a response to increasing client demand for a single, dedicated provider of end-to-end talent solutions worldwide.
Mark Owen, a Founding Director of NBGIPE, comments:
“We are pleased to deliver another strong return to our investors. Our investment in Ochre House validates our commercial approach, working with the management and capitalising on growth opportunities through making follow on acquisitions. This return emphasises why Business Services is one of our three target sectors for investment.”
“Pinstripe and Ochre House’s combined strength will become the new benchmark for global RPO and talent management services,” said Chris Herrmannsen, CEO of Ochre House. “We intend to further expand our footprint into emerging markets and provide our clients with a powerful, unified solution for navigating today’s increasingly competitive talent marketplace.”
“Whilst the robot doing the Gangnam Style dance was definitely a highlight, it wasn’t as impressive as the sheer enthusiasm and potential of the students we saw throughout the day.”
David Bloxham, managing director of GCS Recruitment Specialists and President of the Reading Chamber Council, reflects on his day at the TeenTech Live event held on Friday 28th June at Newbury Racecourse. The event, held to raise awareness of the prospect of rewarding and exciting careers within the technology industry, saw a total of 300 students represent more than 30 schools from across the Thames Valley region.
A proud sponsor of the event, GCS was based in the & lsquo;Insight Zone’ alongside Microsoft, Samsung, JVC, Intel and the aforementioned PSY-borg. Students, split into groups of five, spent an allotted 15 minutes at each stand.
“Our aim for the day was to encourage the students to begin thinking about what businesses look for in employees and how to best demonstrate this on their CV when the time comes” says Bloxham. “We gave each group a blank person specification and engaged them in discussion about what they thought would make a model employee – and why.”
Focusing conversation beyond the purely technical, GCS’ workshop was designed to impress upon students a need to develop the soft-skills that many businesses claim are increasingly lacking in education-leavers.
“Considering these were Year 9 students – a mixture of 13 and 14 year olds – we were impressed with the level of healthy discussion this created, and how motivated yet realistic this particular group of young people was” says GCS marketing manager Daniel Evans. “It was an extremely uplifting and encouraging experience that gives me great hope for the future of our technology industry.”