Livingbridge has announced its sale of Frank Recruitment Group (FRG), a global staffing and recruiting business focussed exclusively on the enterprise software market, to the middle market and growth equity investment platform of TPG.
Livingbridge invested in FRG in 2013, with the aim of helping the group to expand globally and diversify. Since then, with investment from Livingbridge, FRG has opened further offices in the UK, the US and Australia and launched two additional high growth brands, Churchill Frank and Washington Frank.
Today, the Group employs more than 700 staff around the world and is widely acknowledged as the leading player in the enterprise software market.
Xavier Woodward at Livingbridge said: “Since our investment, FRG has continued its global expansion, launching two new high growth brands in Churchill Frank and Washington Frank and significantly growing revenue, profit and headcount. We have thoroughly enjoyed helping the business develop and look forward to watching its continued progress.”
Commenting on Livingbridge’s investment, Co-founder and CFO of FRG, Nigel O’Donoghue said:
“Livingbridge’s investment and support has been a crucial factor in our development and we have greatly enjoyed working with them over the past three years. We have entered 2016 in a fantastically strong position and are excited about the future.”
Ransom Langford, Partner at TPG Growth said: “In less than 10 years, FRG has been able to successfully establish itself in several markets and become the go-to global provider for talent in the cloud technology field. Their niche focus and impressive growth, have given them unparalleled expertise and insights on the industry’s personnel needs that are unique, and highly sought after. We are taking them on from a very strong position, which Livingbridge has given them, and look forward to helping them progress further.”
TPG’s announcement can be found here.