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Graphite Capital Partners has sold global recruitment firm Alexander Mann Solutions to private equity and capital investment firm New Mountain Capital for £260 million. The sale is subject to EU Competition Commission approval.
Staffing Industry Analysts reported in June that Graphite Capital were looking to sell the recruitment firm, which was founded in 1985 by former Dragons’ Den investor James Caan and current CEO Rosaleen Blair.
Mr Caan sold his interest in the company to Graphite Private Equity in a £100 million management buy-out, led by Ms Blair in 2007. At the time, Graphite invested £50 million for a substantial majority stake in the business.
Since the buy-out, Alexander Mann Solutions has increased its range of services and has doubled its net fee income to nearly £100 million. Headcount at the company increased during the period from 900 to almost 2,000.