Soho Square Capital is pleased to announce the successful refinancing of its portfolio company Oliver James, the rapidly growing international recruitment and talent solutions specialist.
Soho Square first backed Oliver James in 2022 with structured capital and expertise to support the businesses ambitious growth plans and net fee income has increased in excess of 20% per annum between FY19 and FY23. Soho Square continues to support the business, retaining its minority equity stake and board seat. The refinancing package, provided by H.I.G. Bayside Capital, includes undrawn facilities to support future growth.
Oliver James was founded in Manchester by Oliver Castle and James Rogers in 2002 and is now a multi-award-winning recruitment and talent solutions specialist with 14 offices globally, focusing in specialist verticals. Since its inception, Oliver James has experienced tremendous organic growth which has been driven by its sophisticated tech-enabled operating model, knowledge of specialist markets, and focus on staff development and retention.
Graeme Edwards, Chief Financial Officer at Oliver James, said:
“Soho Square’s investment has allowed us to carry out our ambitious growth plans and accelerate our professionalisation at scale, enabling us to increase our service lines and enhance our high-quality services to support our clients more effectively. Today’s refinancing underpins the next phase of growth and investment, and we’re delighted to continue our productive relationship with Soho Square as minority equity investors in the business.”
David Steel, Director at Soho Square Capital, commented:
“Oliver James has grown at an impressive above-market rate and is a very successful business led by a highly experienced team. We are delighted to have refinanced as planned, retaining our equity stake and board seat so we can continue to support the business and its ambitious growth plans. This hybrid investment in Oliver James is typical of the type of investment that Soho Square is pursuing in the UK and northern European markets and allows the management teams we work with less dilution of their business than a traditional private equity investment.”
Soho Square’s deal team was led by David Steel and Joe Tebbutt. Oliver James was advised by Deloitte (corporate finance and financial due diligence) and Squire Patton Boggs (legal).
For further information
If you would like to discuss future investment opportunities, please contact:
James Smallridge
+44 (0)79714 75582
Media:
Kepler Communications
Charlotte Balbirnie Caroline Villiers
+44 (0)7989 528421 +44 (0)7808 585184
CBalbirnie@keplercomms.com CVilliers@keplercomms.com
About Soho Square Capital
Soho Square Capital is an investment firm focused on providing flexible capital solutions, typically in the form of senior or preferred capital with minority equity stakes, to established and growing UK and European SMEs. Headquartered in London, the firm is led by a highly experienced team that has been investing together for over 20 years, through many economic cycles and have the expertise and flexibility to invest up to £40 million in any given transaction, across the capital structure, from senior debt to equity. The team works closely with business owners and management teams to structure innovative, bespoke financing solutions and offer enhanced portfolio company support.
About Oliver James
Oliver James specialises in recruitment and talent solutions services, operating out of 14 offices across the UK, Europe, Asia-Pacific and the U.S., with a global turnover of £351 million in 2023. To discover more, visit www.oliverjames.com.