June 30, 2022 – Wilton & Bain has secured investment from Beechbrook Capital to fund a second management buyout, bringing 12 new partners into the shareholding structure to support the future growth of the firm. There will also be a pool of unallocated equity for future individuals. “Five years after Wilton & Bain’s initial MBO the firm has trebled in size and now takes another important step towards becoming a widely held partnership, with the support of our financial partners Beechbrook,” said Piers Marmion, chairman of Wilton & Bain. “This transaction endorses the resilience Wilton & Bain has shown and its rare growth prospects, recognizing the capability of its enlightened management and the strength of its compelling ownership culture, as it welcomes another 12 new partners as shareholders. As Wilton & Bain matures, unusually it is becoming more dynamic, driven by the collective force of Partners who are now owners. Its prospects are exceptional”
Founded in 2001 by Jeremy Mobbs and Ben Latreuille, Wilton & Bain provides executive search, interim management/consulting and technology resourcing services to the technology, professional services and converging digital markets. With offices in London, New York, Austin, Toronto and Ireland, the firm has an expertise in technology to focus on digital transformation for clients across TMT, retail, consumer, financial services, insurance and utilities.
“It’s been quite a journey since our first MBO in 2017, transforming our group of companies into a single, aligned brand, and driving a near trebling of our value through continued growth,” said CEO David Heron. “We are nothing without our people, and we made promises to the team during the Covid crisis that I am delighted we’ve been able to keep. All great professional services firms are built on a culture of shared ownership, and our job now is to turn Wilton & Bain into one of the greats in our sector.”
“We fear no one, and respect everyone; values that have enabled us to challenge but maintain our humility,” said Mr. Heron. “Feet on the ground and focused on delivering excellent experiences to colleagues and clients alike. I’m excited by the future, and continue to be grateful to Jeremy, Ben, Piers and Beechbrook for their support and to my team for their loyalty and commitment to our firm.”
LLR Partners Makes Equity Investment in True
LLR Partners, a private equity firm based in Philadelphia, has made an investment in Haddonfield, NJ-based True, a global executive talent management platform. The new partnership is aimed at developing and expanding innovation within the talent space. Financial terms of the deal were not disclosed.
True surpassed $100 million in revenues in 2019 and added 146 people during the pandemic. True has consistently been the fastest organic growth mid-sized search firm over the last decade. Last month, True placed No. 7 on the Hunt Scanlon Media ‘Top 50 Recruiters’ ranking. LLR Partners, which has raised more than $5 billion to fund investments across the technology and healthcare sectors, is said to have bought into True’s mission: to disrupt a stagnant industry in desperate need of tech-driven talent solutions.
“Since our original investment in May 2017, when we supported the first management buyout, Wilton & Bain has shown impressive growth,” said Adam Moore, investment director at Beechbrook. “This deal will see management become the majority owners of the business and we are very excited about how this can drive the continued success of the business. We look forward to the next phase of our partnership with David, the Board, and the rest of the Wilton & Bain team.”
Beechbrook Capital, a specialist direct lender founded in 2008, invests in SMEs across a range of industries in the U.K. and Europe. To date, it has raised more than €1 billion through eight funds and has invested in 85 companies in the European lower mid-market, including 60+ in the U.K. Beechbrook’s U.K. SME Credit funds provide finance to predominantly non private equity-backed SMEs in the U.K., investing between £5 million and £15 million per transaction.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media