RDL Corporation

Recruitment provider to pharmaceutical and IT sectors

www.rdlcorp.com

Mobeus Equity Partners invested £5m in the management buyout of RDL Corporation, a European recruitment provider in the pharmaceutical, business intelligence and IT sectors.

RDL was founded in 1992, employs 70 people and has annual revenues of over £18m.

DEAL

Realisation of value for founder shareholders through an MBO. Management rolled over a significant sum and the vendors received cash and deferred consideration in the form of loans.

FINANCE

Mobeus put together a £7.7m funding package including £5m of equity from Mobeus and the balance from an invoice discounting facility and vendor loans.

MANAGEMENT SOLUTION

Mobeus Operating Partner Iain Livingston joined as investing Chairman. Livingston has significant sector experience and has helped achieve successful exits in two businesses Mobeus previously backed.

TRANSACTING EXPERTISE

The Company was initially put up for sale in late 2008 but the process stalled due to market conditions.  Mobeus researched the sector and tracked the business for some time. This interest and credibility was important in securing and maintaining the confidence of the vendors through a lengthy process.

Information

Jonathan Gregory
Sector:
Business Services
Type:
Management Buyout
Status:
Current
Date:
October 2010
Value:
£5m
Leader:
Jonathan Gregory