Inspirit Capital raises second fund
6th July 2023
Inspirit Capital is pleased to confirm the completion of the previously announced carve-out of Modular People Solutions (“MPS”) from Capita Plc. MPS comprises the Capita businesses previously known as Capita HR Solutions, Capita Resourcing and ThirtyThree. Following completion, Capita HR Solutions will be rebranded as Conexia and Capita Resourcing will be rebranded as Peregrine. ThirtyThree will continue to trade under its market leading brand. The holding company will be called Aquest.
The three businesses help their customers recruit, train, deploy and develop their workforce. They have over 2,000 multinational corporate, SME and public sector clients operating across a wide variety of industry sectors. With operations in both the UK and US, there are over 1,000 employees across the businesses
Inspirit Capital is a London-based investment firm that specialises in acquiring businesses that are no longer core to their parent company’s strategic objectives and require a different ownership structure to achieve their full potential. Inspirit manages capital on behalf of a blue-chip institutional investor base.
Will Stamp, founding Partner at Inspirit Capital, says: “We’re delighted to get this acquisition over the line, which once again demonstrates Inspirit’s capacity to deliver complex corporate carve-out transactions. We’re very excited about the growth prospects for all three businesses which we believe will thrive with a renewed focus on their core respective markets.”
Briony Lydon, Managing Director at Aquest, added: “We’re delighted to become part of Inspirit Capital’s portfolio. We’re looking forward to continuing our growth journey with Inspirit Capital’s backing and support.
Inspirit was advised on the transaction by Squire Patton Boggs (Legal), FRP Corporate Finance (Financing), European Valuations (Asset valuation), JacksonBreen (IT), Eos Deal Advisory (Financial due diligence), Interpath (Tax), Marsh (Corporate insurance) and Lockton (Warranty & indemnity insurance).
For further information, please contact:
Will Stamp, Partner, Inspirit Capital, firstname.lastname@example.org