de Poel

de Poel is a £700m turnover recruitment outsourcing business in Cheshire that works with well-known clients including the NHS, Sainsbury’s and Warburtons. Established in 2001, it manages temporary workforces for more than 120 UK-wide clients.

The First Lien Facility supported the management buy-out of de Poel in which the senior management team acquired a majority stake from the previous owner and founder. The buyout was led by group managing director Andrew Preston to support further expansion and continued development of products, technology and sector specialisms.

The investment was provided alongside Santander, who provided working capital facilities to the Group.

In January 2018, de Poel was acquired by MSX International, a portfolio company of Bain Capital that operates in a similar market across the US, and TDC was repaid in full.

Andrew Preston commented: “Our relationship with TDC was extremely valuable in terms of both facilitating the incentivisation of the management team within the equity structure and also in supporting de Poel to transform from an owner-managed business into a more corporate-style entity by improving financial reporting, Board structure and general corporate governance.

“I would like to thank them for that support, which ultimately allowed us to attract significant investment from a major US private equity house.”

SectorRecruitment Outsourcing

LocationKnutsford

Deal typeFirst Lien Facility

Deal dateSeptember 2016

Deal amount£12million

ExitedJanuary 2018

Exited toBain Capital

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Tosca Debt Capital LLP (“TDC”) is an Appointed Representative of Toscafund Asset Management LLP which is authorised and regulated by the Financial Conduct Authority (“FCA”) and registered with the U.S. Securities and Exchange Commission as an Investment Adviser. Tosca Debt Capital LLP is a company registered in England and Wales. Registered number: OC414014