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03 February 2015

Charles Russell Speechlys advises FF&P Private Equity on the MBO of Kallidus

Charles Russell Speechlys has acted as the legal adviser to FF&P Private Equity (“FPE”), the private equity business of Stonehage Fleming Family & Partners, on the management buy-out of Kallidus Holdings Limited, the leading human capital management software business. FPE has invested alongside the existing management team and will take a majority stake in the business.

Kallidus is an award winning provider of SaaS software solutions that help organisations to recruit, assess, evaluate and develop employees of mid-cap firms across Europe employing between 500 and 10,000 people. The business operates in a large, global and fast growing market.

As an established and high growth player in the human capital management market, Kallidus offers a disruptive product set to a blue chip customer base of over 200 clients across Europe. FPE will be working hand-in-hand with the management team to maintain high revenue growth, whilst allowing the company to accelerate product development.

FPE will take a majority stake. The management team, who are all reinvesting in the business as part of this transaction, see a number of key growth opportunities for the business, including the expansion of its existing software suite with complementary products either by organic development or via acquisition.

Commenting on the transaction, Malcolm MacDougall, head of Private Equity at Charles Russell Speechlys, said: "Once again we are delighted to have worked with FF&P Private Equity. It was a pleasure working with Henry and the team as well as the Kallidus team on this transaction. This is the sixth transaction we have acted on for FF&P Private Equity. We look forward very much to continuing the strong relationship with FF&P, and also working with the Kallidus team going forward”.

Henry Sallitt of FPE said “The team at Charles Russell Speechlys provided an excellent level of support and advice during the Kallidus due diligence and deal negotiations. This is the latest in a number of successful engagements with the firm and we look forward to working with them again in the near future”.

The Charles Russell Speechlys team was led by Private Equity Partners Malcolm MacDougall and Adam Crossley, Banking & Finance Partner Daniel Sullivan, and Private Equity Associate Chris Manning. Members of our Banking & Finance, Corporate Tax, Intellectual Property and Employment, Pensions & Immigration groups were also involved in the transaction.