Funds managed by YFM Private Equity and YFM Venture Finance (YFM) have increased their investment in Darwin Rhodes Group, a fast growing global specialist in professional financial services and insurance recruitment, by £1.7m.
This investment increases the funds shareholding to 31 per cent and values the Darwin Rhodes Group at £8m.
The same investors will provide Darwin Rhodes Group with access to a further £5m follow-on funding to achieve their expansion plans.
As part of this growth activity Darwin Rhodes is actively seeking acquisition opportunities both in the UK and key international markets.
Darwin Rhodes Group has grown revenues by 100 per cent over the last two years and has achieved in excess of £1million profit for the year end to 31 March 2008.
The recruitment firm’s broadly spread revenue base, in which no single client accounts for more four per cent, consists of a portfolio of blue chip multinationals including HSBC, AIG, Lloyd’s, PricewaterhouseCoopers, Prudential and UBS Investment Bank.
Peter Dunphy, Darwin Rhodes Group, CEO said the company’s success has been generated through specialising in the actuarial, insurance, pensions and banking and investment sectors.
“The additional capital from YFM will be used to expand Darwin Rhodes’ unique model, organically and through acquisition, to other industries and geographies. We have a track record of successful expansion during all stages of the economic cycle and our board and investors are confident that Darwin Rhodes Group will continue to build on this success over the coming years.”
David Gee, Investment Director, YFM commented:
“The impressive track record of the management team since YFM’s first investment three years ago made the opportunity to invest additional sums an easy decision. I am confident Peter and his team can build on their success to date and look forward to working with them to help them achieve their ambitious plans for further growth.”
Darwin Rhodes is focused on business opportunities in China, India and the Far East and in an international marketplace that is characterised by increasing structural demand, skill shortages, rising remuneration, globalisation and deregulation.