Alexander Mann Solutions
In December 2007 Graphite Capital led the £100 million management buy-out of AMS, the World's leading provider of talent acquisition and management services. The company has long-term contracts with a diverse range of multinational blue-chip customers, including Vodafone, Microsoft, Siemens, HSBC, Rolls Royce, Origin, GE and Citi Group. Shortly after the buy-out, Graphite backed AMS in acquiring Capital Consulting, the UK's second largest RPO provider. AMS is headquartered in London and operates low-cost service centres in Poland and the Philippines.
The transaction represented an opportunity to further improve the efficiency of the business model and to increase the company's operational flexibility. As a result, the EBITDA margin increased from 13 per cent in 2008 to over 20 per cent in 2013. This was principally driven by the more effective use of the company's low cost offshore delivery centres. The proportion of employees deployed in these units increased from 30 per cent to nearly 50 per cent over that period.
Key Business Achievements
More than doubled EBITDA to over £20 million and NFI to over £100 million
Increased staff numbers from 900 to 2,000
More than doubled the number of blue chip clients to 65
Significantly increased its sector diversification, winning long-term contracts in the energy, life sciences and pharmaceutical industries
Increased its range of services, refined its business model and expanded its global infrastructure
return on Graphite's investment
In 2013 AMS was sold for £260 million to New Mountain Capital, generating a money multiple of 3.6 times and an IRR of 24 per cent.