Hamilton Bradshaw Private Equity, which is chaired by James Caan, has backed the management buy-out of SF Group.
Financial recruitment company SF Group has received the funds it needs to launch a management buy-out of the business, led by managing director Tony Minnis.
London-based investment firm Hamilton Bradshaw Private Equity (HBPE) has stepped in as backers, providing an undisclosed amount.
The Nottingham-headquartered business, which has a regional presence in Manchester and Birmingham, specialises in the recruitment of finance and accounting professionals on a temporary or permanent basis.
Before joining SF Group in 2001, deal lead Minnis was finance director with Northern Foods.
Minnis comments, ‘SF Group with Hamilton Bradshaw is the beginning of a new and exciting chapter for us.
‘The expertise and investment provided by our new board members as well as access to the HB Group’s significant knowledge sharing capabilities will give us a superior platform from which to grow.’
HBPE was formed in 2004 by entrepreneur, investor and former Dragons’ Den panelist James Caan. It focuses on the service sector, with a bias towards recruitment.
Caan says, ‘This is both a considered and strategic transaction for HB. Accountancy and professional services are key markets for us and complement our existing portfolio covering 28 sectors.
The investment excites Caan and he projects that the business will grow net fee income to £10 million and staff to 110 within three years.
HBPE’s backing is being led by investment director Adam Fletcher and managing director Tristan Ramus, alongside Caan.