Liberata Limited, a Barrow-in-Furness, UK-based supplier of business processing outsourcing services to the public sector, has received an over £20m investment from turnaround private equity firm Endless LLP.
Endless is supporting the buyout by the existing management team of Dermot Joyce and Martin Trainer, who act as CEO and CFO respectively of the Group. Joyce and Trainer joined Liberata over the last 16 months to restructure and build the business, focusing on current clients and on new growth opportunities in the public sector.
Liberata currently employs over 2,200 people working in its 20 business centres across the UK. The Group, which has a turnover in excess of £100m, focused on improving and streamlining complex operational processes to drive costs savings and transform service management for local authorities and central government departments.
The company, which has contracts with the Ministry of Justice and different local authorities in the UK, intends to use the proceeds to improve weak balance sheet and invest in growth initiatives in the next years.
Commenting on the transaction, Dermot Joyce said: “For all our clients, employees and partners this transaction and new investment from Endless means we are better positioned to pursue our ambitious future.
“I thank the company’s board of directors for their exceptional support and commitment to the company over the last several years”.
FinSMEs
14/01/2011