Wed, 06 Jun 2012 | BUSINESS SALE
FDM Group, an IT services provider with many household name clients, is to be sold this autumn by its owner.
Inflexion Private Equity purchased the Brighton-based IT firm for £33 million, taking it private in early 2010. It is now ready to be placed on the market for £200 million.
FDM has enjoyed strong growth since it was delisted from the junior Aim stock exchange. Its operating profits were up by 50.9 per cent last year to £16.3 million on sales approaching £100 million, up by 16.2 per cent.
It is understood that Inflexion is going to bring in a corporate adviser to manage the sale process, likely to be KPMG.
FDM Group counts HSBC, Virgin Media and British Airways amongst its clients. It has made a success of many large firms’ decision to outsource IT consultancy work to bring costs under greater control. It has been cited by a Sunday newspaper as one of the 20 fastest growing mid-market private equity-owned groups in Britain.
FDM has a presence in several locations - London, Manchester, Zurich, Luxembourg, Frankfurt, New York, Singapore and Hong Kong.
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