Inflexion gets 16.2x return from FDM Group IPO


londonUK firm Inflexion Private Equity has made an impressive return of 16.2 times from the IPO of IT services company FDM Group, which was valued at £308.5m.

Since Inflexion first backed FDM in 2010, the company has launched operations in in the US, Canada, China, Hong Kong and Singapore, while its headcount has increased fourfold.

FDM currently has more than 130 international blue chip clients including UBS, Virgin and British Airways.

Inflexion managing partner Simon Turner said, “Together we have overseen rapid international expansion, huge growth in employee numbers and a five-fold increase in profits.

“FDM has become the UK’s leading IT-graduate employer and rivals the Big 4 in the number of graduates it attracts every year.

“Our aim was to place 75 per cent of our holding but due to exceptional investor demand we have realised our entire stake.”

Last month it was reported that Inflexion was planning to raise £900m for two new vehicles.

The firm completed its most recent fundraise in August 2012 by holding a final close of £100m for a co-investment fund, beating its £75m target.

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