PE firm exits healthcare staffing business
Key Capital Partners (KCP) has successfully exited Hallam Medical after six years involved in the business, followin a management buy-out backed by ABN Amro, delivering a healthy return for investors.
Sheffield-based Hallam Medical is a healthcare staffing business which deploys highly qualified nurses, largely Advanced Nurse Practitioners, Community Care Specialists and Telephone Triage Clinical Advisors.
KCP backed Hallam in April 2014 with a £3.3 million pound investment, which was used to crystallise some of the value the founding shareholders had built and provide working capital to accelerate the growth of the business.
Hallam CEO, Deborah McCain, commented: “We have enjoyed a great relationship with the team at KCP. They have been supportive and encouraging throughout the time they were invested. Their market knowledge and business insight has been invaluable in helping us steer the business through a fast-changing market.”
KCP partner, Philip Duquenoy added: “It has been a pleasure to work with Deborah, Alex Munro and the team during the last few years. The management team did an excellent job navigating rapidly changing market conditions and I wish them well for the future.”
This is the second successful exit for the firm which has offices in Leeds and London and equity investments of between £3m and £15, this month following the sale of Sparta Global for a seven times return earlier in the month.
The Hallam Medical management team were advised by Kevin Davies and Declan Savage of BHP Corporate Finance. Legal advice was provided by Sean Fitzgerald of Ward Hadaway.
