Kallidus acquires recruitment tech firm
Kallidus supplies software to brands including McDonald's, O2, Transport for London and Eurostar.
The Cirencester-based company was founded in 2000 and employs around 100 staff. It is majority-owned by FPE Capital following a secondary management buyout (MBO) from Westbridge Capital.
Advorto provides talent recruitment software for blue-chip organisations, including the NHS.
The move will incorporate recruitment management software into Kallidus’s talent management suite.
Finance director Iain Slater said: "We are pleased that the acquisition of Advorto has been a success.
“The firm has an excellent fit with Kallidus and the integration of its products will allow us to add recruitment management and applicant tracking software to our current offering.
"We are undergoing an exciting period of growth at Kallidus and the acquisition is one of many elements of our expansion strategy."
RBS' corporate transactions team supported the deal.
Leon Musmann, director, RBS corporate transactions team, said: "The acquisition of Advorto marks for Kallidus what is a year of significant change.
“Rob Caul (MD) and Iain Slater (FD) are truly impressive and have delivered against a clear and stretching set of objectives to build what is an enviable platform for growth.
"We are proud to have supported Kallidus since inception in 2000, through its MBO with Westbridge Capital in 2009 and continuing through the present phase of growth with FPE Capital."
RBS received legal advice from Burges Salmon (Rachael Ruane and Christopher Herford) and Kallidus from Charles Russell Speechleys (Adam Crossley, Chris Manning, Julia Chan).
Financial due diligence was undertaken by PKF Francis Clark (Paul Crocker and Matthew Willmott).