Barclays combines work and play

Barclays Private Equity has invested in the buyouts of a recruitment agency and a travel operator.

Barclays Private Equity (BPE), the buyout division of Barclays Capital, recently completed two buyouts in companies that operate in rather different spheres of human activity.

BPE invested £9m in the MBO of Recruitment Solutions Group (RSG), a London-based recruitment agent specialising in health and medicare.

BPE’s contribution was part of a funding package including working capital of £18m. Senior debt and working capital were provided provided by the London Office of Barclays Acquisition Finance. BPE and RSG’s management were advised by DHD Corporate Finance.

Earlier this month, BPE backed the management buy-in of International Life Leisure Limited (ILLL), a specialist tour operator for self-drive holidays from the UK to France, Italy and Ireland. The value of the transaction was not disclosed.

The equity capital was put into the deal by BPE’s Manchester office. A debt tranche was arranged by Royal Bank of Scotland. Advisers in the deals were David Webster & Co., Eversheds, KPMG, Addleshaw Booth & Co. and Halliwell Landau.