Rachel McKenzie was an experienced professional with long career background in legal and commercial matters and most recently being a consultant in Reed Global, specialising in RPO and Managed Services.
The opportunity arose for both James and Rachel to work together in order to launch a new partnership, through a joint venture, taking advantage of Rachel’s existing experience; the new JV would be an innovative managed services and workforce management provider.
We backed Rachel McKenzie in 2011 in a joint venture to launch HB Retinue. HB Retinue was founded in June 2011, providing staffing solutions in 3 key sectors; Healthcare, Social Housing and Local Government. We invested $419,000 for 81% and Rachel invested $47,500.
At the exit EBIT of £0.9m, our share share of HB Retinue was sold for £8m (with the business valued at £9.9m) in November 2014, producing a return of 25x.
Following the sale, Retinue Solutions continued its exponential growth and achieved £2.7m GP and £1.5m EBITDA in 2015/2016
We look for exceptional recruitment professionals with relentless ambition. We partner with people around the globe and across all sectors. Once your application has been received it will be reviewed by our investment team. If successful, we’ll contact you to discuss launching or scaling your business and possible exit strategies in more detail.