- Quinn supports Inflexion on their take-private of FDM Group
Quinn supports Inflexion on their take-private of FDM Group
The Quinn Partnership has provided its expert Management Due Diligence services to support Inflexion Private Equity’s take-private of international IT services company FDM Group. The deal values the AIM-listed business at £28.4 million. The Inflexion team was led by John Hartz, and colleagues Richard Swann and Gareth Healy.
With sales offices internationally including London, New York, Frankfurt, Zurich and Luxembourg, FDM specialises in providing outsourced IT solutions, training graduates in different IT disciplines and appointing them to large blue chip organisations looking for entry-level staff. Established in 1991, FDM services over 200 clients and is led by Chief Executive, Rod Flavell and Chairman Ivan Martin, former of head of banking at Misys.
As part of the transaction Hartz and Swann are joining the board of the vehicle set up to acquire FDM, Astra 5.0, as non-executive directors.
John Hartz, Managing Partner at Inflexion commented, “We see great opportunities for FDM, which even during the recession has traded well and expanded margins.”
Mike Stiles, Director at The Quinn Partnership commented “This is a passionate and driven management team which in tandem with Inflexion’s expertise will be a compelling proposition as the business moves into this new era of private ownership and exciting growth.’