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RJD Partners exits Ipes stake for 3x return

8 Apr 2013

exit sign_sqLower mid-market focused private equity firm RJD Partners has made a three-times return selling portfolio company Ipes, marking the fourth exit from its second fund.

The business was bought out in a deal backed by Silverfleet Capital, which valued the administration and outsourcing specialist at £50m.

RJD backed the £25m buyout if Ipes from its founder in September 2008, fully underwriting the deal.

The business currently has assets under management of more than $50bn, up from $36bn at the time of the original buyout.

During RJD’s ownership, the business invested heavily in IT and infrastructure and expanded by opening new offices.

Richard Caston, RJD Partners managing partner, said, “We are delighted to have supported an exceptionally strong management team in growing Ipes into a clear market leader with an unparalleled reputation for service.

“This transaction delivers a highly successful exit for RJD and our funds. We wish Ipes every success under its new financial backer.”

RJD targets UK-based businesses operating in the IT services, leisure and healthcare sectors with enterprise values of up to $75m.

The London-based firm has raised a total £250m for its two funds and is currently investing from its RJD Private Equity Fund II.

Last month RJD backed portfolio company Harrington Brooks to make two bolt-on acquisitions.

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