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Penta and Investec back GRS buy-out

Article Date:  May 12 2008 Nick Britton

Private equity company Penta Capital and private bank Investec have backed the management buy-out of GRS, a headhunting firm serving the financial and legal sectors. The deal is worth £18 million, of which Investec’s growth and acquisition finance division provided £5.25 million through a combination of invoice and acquisition finance.

The buy-out team is led by GRS CEO Ken Brotherson.

James Cullen, a director at Investec, comments: ‘Ken Brotherston is a proven individual in the sector with a track record of success. We found the business’ positioning and in-depth, specialist knowledge of its chosen markets to be compelling.’

Established in 2002, GRS is based in Brighton and has offices in Hong Kong, London, Munich, New York, Paris and Zurich. The company focuses on the risk, legal, tax and interim markets.

Penta Capital has offices in Glasgow and London and generally invests between £3 million and £20 million in buy-outs, buy-ins and later-stage development of unquoted UK mid-market companies.

Investec’s growth and acquisition division provides asset-based lending, mezzanine finance and minority equity investment.

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