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Inflexion Private Equity, the mid-market private equity investor, announces today that it has led the £15m MBO of Red Commerce, a pan-European IT resourcing specialist.
Red Commerce focuses on supplying SAP consultants to multi-national corporations on mid-term consulting contracts and permanent placements. The company operates in a high growth market which has seen a doubling in demand for SAP consultants over the last two years. SAP is now core business infrastructure with over 80% of Fortune 500 companies having implemented systems, and growth is expected to continue driven by regular upgrades, new product releases and corporate M&A activity.
Since its formation in 2000, Red Commerce has displayed an impressive history of growth culminating in its inclusion in this year’s Sunday Times FASTRACK 100 list of companies at number 17.
Funds managed by Inflexion have invested approximately £7.4 million through a mixture of loan notes and shares in return for a substantial management stake. The management team and vendors have also invested. Debt financing was provided by HSBC.
Simon Turner, Managing Partner of Inflexion Private Equity said: “Red Commerce is a fast growing company with an excellent track record and an experienced management team. It represents an ideal opportunity for Inflexion to invest in a market with both high growth and sustainable demand.”
Tom Hooper, Chief Executive Officer of Red Commerce said: “We are very proud of the growth Red Commerce has achieved to date, which is testimony to the hard work of our employees, a focus on world class delivery and the strong internal culture of development and training. Inflexion’s financial resources and investment experience make them the ideal partner for the future and the next stage in our growth plan.”