Private equity investor Risk Capital Partners has invested £5 million for a 28% stake in Public Recruitment Group (PRG).
Luke Johnson, Chairman of Risk Capital Partners, will join the board of directors as Non-Executive Chairman.
PRG is a leading public sector staffing and services provider, with a special focus on the Education and Social Work sectors. This investment demonstrates Risk Capital Partners’ appetite to take strategic positions in quoted companies as well as private businesses.
“I have consistently made money over a number of years in the staffing industry, and I believe this is an interesting situation at an attractive valuation.” says Johnson. “It is a market leader in the provision of teachers and social workers and, following our investment, will be well placed to expand.”
PRG has grown through a programme of strategic acquisitions and now operates seven highly successful and wholly owned companies, each with an established position in its market. These companies are Supply Desk, Kellis, Teach London and LEA Direct in the Education sector; and Action First and Academy Social Care in the Social Work sector.