The management team has stepped in to lead a buy-out of supply teacher and education support staff business Education Personnel for a second time.

ICG has supported Education Personnel in a deal that sees existing equity backer Graphite Capital sell up.

Having funded a £45 million management buy-out (MBO) for the company in July 2010, Graphite then led a growth strategy centred on both organic and acquisition-led development.

In 2011 the business, named Teaching Personnel when Graphite become involved, merged with Protocol Education to become Education Personnel.

Education Personnel’s revenue has since grown by some 60 per cent and it now has 67 branches placing 16,000 candidates per year across 7,200 schools.

Chief executive John Bowman says Graphite has shared in Education Personnel’s vision to create a market leader through acquisitive means.

Graphite has now exited eight companies since October 2012, during which time it also raised a new £500 million fund for investing in the mid-market. Sales during the period included Alexander Mann Solutions for £260 million and NES Global Talent for £234 million.

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Graphite senior partner Mike Tilbury says, ‘The company’s stellar performance has been driven organically and through a transformational acquisition which was extremely well executed.

‘The company provides very important services to schools, has the leading position in its market and is well positioned to continue to take advantage of the substantial growth opportunities available.’

Education Personnel says that future growth is likely to be linked to the government’s push to improve education standards in an environment of growing pupil numbers.