Travers Smith LLP has advised all selling shareholders, including private equity firm Livingbridge and the founders of Frank Recruitment Group (‘FRG’), on the sale of FRG to TPG Growth.
Founded in Newcastle, UK in 2007, FRG is a leading niche recruitment firm for IT professionals who specialise in enterprise software. FRG employs more than 700 people across its offices in London, Melbourne, New York, Newcastle, San Francisco, and Singapore and operates four trading brands that each focus on a specific technology product.
Following the investment by Livingbridge in 2013, FRG continued to diversify and expand globally successfully establishing itself in several markets as the go-to global provider for talent in the cloud technology field.
Travers Smith’s team advising the selling shareholders on the transaction was led by private equity partner Jim Renahan, who was supported by senior associate Tamara Kilner. A separate team lead by Travers Smith partner private equity partners Paul Dolman and Will Yates and senior associate Laura Pembridge acted for management re-investing in the buyer. Additional specialist advice was provided by tax partner Russell Warren and associate Tom Rickford. Ward Hadaway (Martin Hulls) also helped support the selling shareholders on the sale.
Kirkland & Ellis (Gavin Gordon) acted as legal advisers to TPG Growth and HSBC provided debt financing. Rothschild (a team led by Niall McBride) provided corporate finance advice to the sellers.