June 30, 2022 – Wilton & Bain has secured an investment from Beechbrook Capital to fund a second management buyout, bringing 12 new partners into the shareholding structure to support the company’s future growth. There will also be a pool of unallocated equity for future individuals. “Five years after Wilton & Bain’s initial MBO, the company has tripled in size and is now taking another important step to become a broad-based partnership, with the support of our financial partners Beechbrook,” said Piers Marmion, Chairman of Wilton & Bath. “This transaction confirms Wilton & Bain’s proven resilience and rare growth prospects, recognizing the ability of its thoughtful management and the strength of its compelling ownership culture, as it welcomes 12 new partners as shareholders. As Wilton & Bain matures, it becomes unusually more dynamic, driven by the collective strength of the partners who now own it. Its prospects are exceptional.”
Founded in 2001 by Jeremy Mobbs and Ben Latreuille, Wilton & Bain provides executive search, interim management/consulting and technology resource services to the technology, professional services and converging digital markets. With offices in London, San Francisco, New York, Toronto and Frankfurt, the company has technology expertise to focus on digital transformation for customers in TMT, retail, consumer services, financial services , insurance and utilities.
“It’s been quite a journey since our first MBO in 2017, transforming our group of companies into a single, aligned brand, and nearly tripling our value through continued growth,” said CEO David Heron. “We are nothing without our people, and we made promises to the team during the Covid crisis that I’m glad we were able to keep. All great professional services companies are built on a culture of shared ownership, and our job now is to make Wilton & Bain one of the biggest in our industry.
“We fear no one and respect everyone; values that allowed us to challenge ourselves while maintaining our humility,” Mr. Heron said. “Down to earth and focused on delivering great experiences for our colleagues and customers. I am excited about the future and continue to be grateful to Jeremy, Ben, Piers and Beechbrook for their support and to my team for their loyalty and commitment to our firm.
LLR Partners takes an equity stake in True
LLR Partners, a Philadelphia-based private equity firm, has invested in Haddonfield, N.J.-based True, a global talent management platform for executives. The new partnership aims to develop and expand innovation within the talent space. Financial terms of the deal were not disclosed.
True topped $100 million in revenue in 2019 and added 146 during the pandemic. True has consistently been the fastest growing organic mid-sized recruiting company over the past decade. Last month, True ranked No. 7 in Hunt Scanlon Media’s “Top 50 Recruiters” ranking. LLR Partners, which has raised more than $5 billion to fund investments in the tech and healthcare sectors, reportedly bought into True’s mission: to disrupt a stagnant industry in desperate need of talent-focused solutions. technology.
“Since our initial investment in May 2017, when we backed the first management buyout, Wilton & Bain has experienced impressive growth,” said Adam Moore, chief investment officer at Beechbrook. “This deal will see management become the majority owner of the business and we are very excited about how this can contribute to the continued success of the business. We look forward to the next phase of our partnership with David, the Board and the rest of the Wilton & Bain team.
Beechbrook Capital, a specialist direct lender founded in 2008, invests in SMEs in various sectors in the UK and Europe. To date, it has raised over €1 billion through eight funds and invested in 85 lower-tier European market companies, including over 60 in the UK. in the UK, investing between £5m and £15m per deal.
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Contributed by Scott A. Scanlon, Editor; Dale M. Zupsansky, editor; and Stephen Sawicki, Editor – Hunt Scanlon Media