Management buy-out of NP Group
NP Group delivered turnover of £29m in FY15 and employs 130 staff across Europe, America and Asia.
Deloitte’s Human Capital Services M&A team, led by Katie Folwell-Davies, ran a competitive process with strong interest received from across the investor community.
Katie Folwell-Davies commented, “Having worked with the business and its shareholders for many years, I am delighted to have delivered a successful transaction which delivers the best financial, commercial and cultural fit for management and meets the objectives of all shareholders. NP Group has a truly differentiated offering. The team has an immense amount of passion, drive and vision and the underlying markets that they serve are fast moving, dynamic and require the levels of innovation for which NP is renowned.”
Chris Cook described the investment as a key milestone for the business and believes NP Group is well positioned to prosper over the coming years:
“NP Group's unique blend of people services to the Tech Sector has driven compound growth above 50% for the last four years. This investment allows us to develop our service range to deliver high quality resource solutions to our clients at a speed, flexibility and cost effectiveness unmatched in the industry.”
Chairman Andy Green will remain an investor and advisor to the CEO and board and expects the highly committed management team to build on a strong FY15 to deliver their ambitious three year plan:
“This transaction incentivises NP Group's world class management team, led by CEO Chris Cooke, to continue to drive the spectacular growth that NP Group has achieved into the future. Creation of a new incentive scheme with a special class of share allows investment in new customer propositions and a reward opportunity that will retain and attract the best minds in the industry”
Deloitte LLP (Corporate Finance): Katie Folwell-Davies, Sohail Ahmad, Robert Murray, Negar Afsarzadeh
MacIntyre Hudson: Nigel May
Silverman Sherliker: Christopher Sherliker, Adam Powell
Dickson Minto: Martin McNair, James McClymont, Naomi Cherry
Leighton Hamilton Management Ltd: Stuart Leighton
Deloitte LLP (Tax): Nigel Barker, Susie Calder, Andra Ilie