Recruitment & HRAppointmentsInvestment
Human resources technology firm Talos360 has been backed by private equity firm LDC to support the next stage of its growth journey.
Chris Herrmannsen, founder of talent acquisition and management business Ochre House, has been appointed non-executive chair at the fast-growing North West firm following the deal.
The company, which was co-founded by Stephen Rundell and Tomas Coulter in 2009, provides recruitment and engagement technology to help businesses better attract, recruit and retain talent.
Its 700+ customers range from SMEs to blue chip organizations, and include household names such as Easyhotel, The Entertainer, Homebase, Graham & Brown and Purplebricks.
Talos360 employs more than 120 people at its headquarters in Warrington. It has grown rapidly in recent years, ending 2021 with increased revenue of 56% – which includes a 94% increase in tech revenues – and is on target to finish 2022 with a turnover of more than £10m.
LDC is backing the existing management team, led by CEO Janette Martin and co-founder Rundell, to support their organic growth strategy and explore complementary acquisitions.
Financial details of the transaction are undisclosed, and it provides an exit for existing investor Tristan Ramus and his team at Twenty20 Capital.
The company plans to create more than 50 new jobs by 2025.
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John Clarke, investment director at LDC in the North West, and Dale Alderson, partner and head of LDC in the North West, will join the board as non-executive directors.
“We’re really proud of the business we’ve built, and I’d like to thank Tristan and the team at Twenty20 Capital for helping us get to where we are today,” said Rundell.
“As we look to the next stage of our strategy, we see huge potential for continued growth and with the team’s track record and sector expertise we are confident LDC is the partner to help us tap into this.
“We also wanted a partner who would be a good cultural fit. Our people are our most important asset and to have a partner that mirrors the characteristics we look for in our own employees – caring, genuine and down to earth – was key for us.”
Martin added: “I am incredibly excited about our partnership with LDC. We share a passion for developing people-first, high-growth businesses and I can’t wait to have the team join us at the boardroom table.
“From day one, it was clear that LDC is an investment partner that backs management teams and supports their strategy, which is exactly how we want to work.
“I’m so proud of what we have achieved so far and there is no doubt that we have an incredible opportunity ahead of us. Our amazing team is brimming with ideas, and we’re looking forward to what we can bring to both existing and new customers.
“To have a partner that will add value and support us along the way is exactly what we were looking for.”
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