Tertiary Buyout of Kallidus

Deal Overview

Independent management advisory
Worked seamlessly with buy and sell side advisors

Momentum Corporate Finance has advised the management team as part of the successful sale by FPE Capital (FPE”) of leading UK human capital management SaaS investment Kallidus achieving 3.0x MoC and 31% IRR.

The buyout of Kallidus will generate a 3.0x MoC and 31% IRR return for FPE funds, which in combination with funding for a subsequent bolt on achieves a blended return of 2.7x MoC and 34% IRR over the four-year investment period.

Headquartered in Cirencester, UK, Kallidus has grown rapidly in the period under FPE’s ownership, which included the bolt on acquisition of Advorto, a SaaS recruitment provider, in September 2017. Kallidus is being acquired by Apse Capital, which has strong knowledge of the sector, its Partners having previously invested in Seagull, a maritime e-learning and technology platform.

We are delighted with the support and advice from Momentum during the transaction. Kallidus is at an exciting stage of its growth story and we believe we will benefit from Apse Capital’s expertise and support in our next stage of growth.

Rob Caul, CEO at Kallidus

It has been fantastic to see Kallidus grow and to be part of its development as it benefits from its major investment into the core software platform and expanded product offering. We would like to congratulate the team on their significant achievements in the past few years during our partnership with them, and to wish them continued growth and success.

Henry Sallitt, Managing Partner at FPE

The successful completion of our investment in Kallidus marks an exciting phase in its development as we support the Company during the next stage of its growth. We look forward to working with Rob and the rest of the management team to continue to deliver world class human capital management and e-learning solutions.

Tim Green, Managing Partner of Apse Capital

Kallidus is an exceptional business run by a high quality management team. We were delighted to be able to provide independent advice to Rob and the team on this transaction. Apse Capital and management have ambitious plans to scale the business in its next phase of growth and we look forward to continuing to support them at an exciting time for the business.”

Alastair Boorman, Partner at Momentum Corporate Finance

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