NBGI Private Equity, the UK small to mid-market buyout specialist, has sold Walker Hamill, the UK recruitment firm for the financial industry.
The sale back to management valued the company at around £10m and comes three years after NBGIPE backed a £1.9m buyout by managing directors David Craig and Guy Townsend. The firm took a 55% stake in the company and over the life of the investment committed £2.3m to Walker Hamill. The exit represents a return of approximately 3.5x and an IRR of 73%.
This is the first divestment for NBGI, which launched a £68m fund in 2000. The fund targets what it calls traditional economy businesses, located in the UK or Ireland, and typically provides £2m to £15m of equity per deal.