FF&P Private Equity (FPE), has backed the management buy-out of the human capital management software business, Kallidus Holdings Limited (Kallidus).
FPE has invested alongside the existing management team and will take a majority stake in the business.
Kallidus is an award winning provider of SaaS software solutions that helps organisations to recruit, assess, evaluate and develop employees of mid-cap firms across Europe employing between 500 and 10,000 people. The business operates in a large (over $9Bn) global and fast growing (over 20%) market. As an established and high growth player in the human capital management market, Kallidus offers a disruptive product set to a blue chip customer base of over 200 clients across Europe. FPE will be working hand-in-hand with the management team to maintain high revenue growth, whilst allowing the company to accelerate product development.
FPE will take a majority stake. The management team, who are all reinvesting in the business as part of this transaction, see a number of key growth opportunities for the business, including the expansion of its existing software suite with complementary products either by organic development or via acquisition.
Commenting on the transaction, Rob Caul, CEO of Kallidus, says: “We are very ambitious and want to continue to build on the success that the business has delivered to date. With this investment from FPE, we not only have access to the greater capital resources that will enable us to accelerate our growth rate, but also a partner who shares our enthusiasm and ambition. We look forward to working with FPE to deliver our potential.”
Henry Sallitt, Co-Head of FPE, says: "We are delighted to back Rob and his team to continue the impressive growth they have achieved since 2009. The Kallidus business has a huge range of both organic and acquisitive avenues for growth. We look forward to working with the team to realise these opportunities”.
FPE was advised on the transaction by Charles Russell Speechlys LLP and Baker Tilly LLP. Kallidus was advised by Mooreland Corporate Finance and Capital Law LLP and management by Clarke Holt LLP. Acquisition debt was provided by BLME.
