Private equity firm Endless has backed the management buy-out (MBO) of the business outsourcing company Liberata by providing £20 million of new funding.
Garry Wilson, managing partner of Endless, comments that the deal is both the firm’s largest investment to date and its first in London.
Liberata provides outsourcing services such as finance and accounting to both public and private sectors in the UK, including the Ministry of Justice. The company employs 2,000 staff across its 20 UK business centres, and has a turnover of around £100 million.
Endless provides financial investment to corporate divestments and turnarounds. Founded in 2005, the Leeds-based firm has four offices across England. Endless currently has funds of £300 million under management and is investing from its £164 million Fund II. Other Endless investments include Crown Paints and Amco Group.
Endless was advised on the deal by Robin Johnson, partner at Eversheds, and Gordon Singer, partner at PricewaterhouseCoopers.