We finished 2017 strongly with the sale of EPM (“Education Personnel Management”) to Citation, an HR and health and safety specialist, backed by HG Capital.
We invested in EPM in 2012 alongside the management team in a debt funded buy-out and our exit to Citation represents a multiple of 34 times on the original equity investment.
EPM has grown strongly in recent years to become the UK’s leading provider of HR and payroll services to the education sector, servicing over 1,200 schools. The team, led by the CEO Jennie Elliott, look forward to being part of Citation, which has grown rapidly under PE ownership.