Sunday 7 April 2019 1:23 pm

Lloyds Bank private equity arm LDC invests £17.6m in recruitment services firm Amberjack

LDC, the private equity arm of Lloyds Banking Group, has invested £17.6m in graduate recruitment services firm Amberjack to support a management buy-out.

The company, which provides careers services and software to major employers such as Unilever, Network Rail and BP, will use the equity to improve its software and technology products and explore acquisitions.

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LDC is backing Amberjack’s existing management team led by chief executive Cynthia Bostock and managing directors Sophie Meaney and Cassie Sissons.

Bostock said: “Amberjack’s growth is testament to the fantastic service our teams provide to all of our clients and the increasing sophistication required in large recruitment campaigns and specifically for junior talent.

“We’ve grown Amberjack to become the undisputed market leader in our sector and are looking to expand our service offering even further with LDC’s investment.

“The support of an established private equity partner with comprehensive experience in helping firms that provide technology services will help us accelerate our ambitious growth strategy.”

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LDC investment director Chris Baker, who led the deal, will join the board as non-executive director alongside investment director Alastair Weinel. Paul Bosson will join as non-executive chairman.

LDC was advised by James Cowper Kreston, Gateley, HMT, Silxo and PMSI Consulting.

Amberjack was advised by Spectrum Corporate Finance and Clark Holt.