M&A Deal Summary

Pricoa Private Capital Acquires Specialist People Services

On April 7, 2022, asset manager Pricoa Private Capital acquired staffing company Specialist People Services from LDC

Acquisition Highlights
  • This is Pricoa Private Capital’s 1st transaction in the Staffing sector.
  • This is Pricoa Private Capital’s 4th transaction in the United Kingdom.

M&A Deal Summary

Date 2022-04-07
Target Specialist People Services
Sector Staffing
Buyer(s) Pricoa Private Capital
Sellers(s) LDC
Deal Type Secondary Buyout

Target

Specialist People Services

Bradford, United Kingdom
Specialist People Services is a recruitment business providing critical labor solutions to the logistics market in the UK and internationally. The group encompasses the operating brands Driver Hire Nationwide, Driver Hire Australia, Driver Risk Management, and ISS Labour. Specialist People Services was formed in 1983 and is based in Bradford, United Kingdom.

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Buyer(S) 1

DESCRIPTION

Pricoa Private Capital is the principal investment arm of Prudential Financial. Pricoa looks to provide a variety of financing and capital solutions including equity, mezzanine, and other financial solutions to companies globally. The Firm focuses on investing in middle-market companies in traditional industries. Pricoa Private Capital dates back to 1925 and is based in Chicago, Illinois.


DEAL STATS #
Overall 4 of 5
Sector: Staffing M&A 1 of 1
Type: Secondary Buyout M&A Deals 3 of 4
Country: United Kingdom M&A 4 of 5
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-24 Kitwave Group

North Shields, United Kingdom

Kitwave Group is a wholesaler with a wide product range including confectionery, soft drinks, ice-cream, alcohol and tobacco. Kitwave offers a membership led delivery and cash and carry service to a diverse mix of independent retailers and wholesalers. The group maintains strong long-term relationships with its customers and its unique local service offers customers a feeling of being more than just an account number. Kitwave Group was founded in 1987 and is based in North Shields, United Kingdom.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-30 Together Group

London, United Kingdom

Together Group is a group of full-service digital agencies focused on providing digital strategy, eCommerce, marketing, and creative branding services. Together Group was founded in 2017 and is based in London, United Kingdom.

Buy -

Seller(S) 1

SELLER

LDC

London, United Kingdom

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1981
PE ASSETS 3.9B GBP
Size Large
Type Sector Agnostic
DESCRIPTION

LDC is the private equity and investment arm of Lloyds Banking Group. LDC invests in mid-market companies throughout the UK. LDC seeks high growth businesses with at least two years of profitability (greater than £1 million). The Firm looks to commit £2 to £100 million in companies generating at least £5 million in revenue. Areas of interest include cleantech/environmental, construction/property, financial services, healthcare, industrials, retail/consumer, support services, TMT and travel/leisure. Prospective transaction types includes acquisition financings, development capital, equity release, MBOs, MBIs, mergers, private placements, and secondary buy-outs. LDC was formed in 1981 and is based in London.


DEAL STATS #
Overall 182 of 210
Sector: Staffing M&A 2 of 4
Type: Secondary Buyout M&A Deals 67 of 77
Country: United Kingdom M&A 176 of 204
Year: 2022 M&A 5 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-28 Cakesmiths

Bristol, United Kingdom

Cakesmiths is an independent manufacturer and supplier of artisan handmade cakes. The business caters with a wide range of palates, including a broad vegan and very-low gluten range. Cakesmiths was founded in 2014 and is based in Bristol, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-01 Retail & Asset Solutions

Bromley, United Kingdom

Retail & Asset Solutions is a provider of supply chain management, stocktaking and merchandising services to the grocery and general retail sector. Retail & Asset Solutions was founded in 1961 and is based in Bromley, United Kingdom.

Sell -