Exit: TALOS360

  • October 17, 2022
Talos360, an award-winning provider of human capital management (HCM) solutions, has chosen to partner with leading mid-market private equity firm LDC to support the next stage of its growth journey.

The company, which was co-founded by Stephen Rundell and Tomas Coulter in 2009, is one of the UK’s fastest growing HR technology provider. Its proprietary recruitment and engagement technology helps businesses to better attract, recruit and retain talent, and it is a trusted partner to more than 700 businesses. Customers range from SMEs to blue chip organisations, and include household names such as Easyhotel, The Entertainer, Homebase, Graham & Brown and Purplebricks.

Talos360 has become a market leader in SaaS talent solutions through the quality of its product and the service its team provides. It has also built a reputation as a people-first business through its commitment to supporting employees. This was independently recognised earlier this year when Talos360 was named the fifth-best workplace in tech by Great Place to Work.

Today, Talos360 employs more than 120 people at its headquarters in Warrington. It has grown rapidly in recent years, ending 2021 with increased revenue of 56% – which includes a 94% increase in tech revenues – and is on target to finish 2022 with a turnover of more than £10m.

LDC is backing the existing management team, led by CEO Janette Martin and Co-Founder Stephen Rundell, to support their organic growth strategy and explore complementary acquisitions.

With LDC’s support, Janette and the team will be able to further invest in product development and continue to evolve its proposition for the benefit of new and existing customers. The partnership will also enable the team to create further opportunities for employees and it plans to create more than 50 new jobs by 2025.

The investment was led by John Clarke, Investment Director at LDC in the North West. He was supported by Investment Managers Camilla Greenwood and Grant Goodwin, and Dale Alderson, Partner and Head of LDC in the North West.

Both John and Dale will join the board as Non-Executive Directors, alongside Chris Herrmannsen, Founder of global talent acquisition and management business Ochre House, who joins as Non-Executive Chair.

Stephen Rundell, Co-Founder of Talos360, said: “We’re really proud of the business we’ve built, and I’d like to thank Tristan and the team at Twenty20 Capital for helping us to get to where we are today. As we look to the next stage of our strategy, we see huge potential for continued growth and with the team’s track record and sector expertise we’re confident LDC is the partner to help us tap into this.

“We also wanted a partner who would be a good cultural fit. Our people are our most important asset and to have a partner that mirrors the characteristics we look for in our own employees – caring, genuine and down to earth – was key for us.”

Janette Martin, CEO at Talos360, added: “I am incredibly excited about our partnership with LDC. We share a passion for developing people-first, high-growth businesses and I can’t wait to have the team join us at the boardroom table. From day one, it was clear that LDC is an investment partner that backs management teams and supports their strategy, which is exactly how we want to work.

“I’m so proud of what we have achieved so far and there is no doubt that we have an incredible opportunity ahead of us. Our amazing team is brimming with ideas, and we’re looking forward to what we can bring to both existing and new customers. To have a partner that will add value and support us along the way is exactly what we were looking for.”

John Clarke, Investment Director at LDC, said: “Talos360 is a fantastic business and the management team’s strategy of putting its people and customers first has enabled them to build an enviable proposition within the market. There’s a real opportunity to build on this, enabling the business to support more customers with their talent strategies, and we’re looking forward to supporting Janette, Stephen and the wider team on their journey.”

LDC has a strong heritage of supporting the growth of HR SaaS businesses. The private equity firm successfully backed the growth plans of workforce management software specialist Mitrefinch, helping the management team to double revenues and increase employee numbers by 64 per cent during its four-year partnership. It also supported HCM software solutions provider CIPHR during a four-year partnership, helping the management team to double its headcount and drive a compound annual revenue growth of more than 25 per cent.

Janette Martin has recently been named one of LDC’s Top 50 Most Ambitious Business Leaders of 2022. This follows her being recognised as The Optima Talent Tech Leader of the Year at The TIARA Talent Tech Star Awards, where Talos360 was also awarded The Talent Tech Scale-Up Award in recognition of the company’s growth.

Houlihan Lokey (Dominic Orsini, James Grundy, Matt Doyle and Ben Levett-Dunn) both originated and acted as lead adviser on the transaction, providing corporate finance advice to Talos360. Legal advice was provided by Addleshaw Goddard.

LDC was advised by GP Bullhound (corporate finance) and DWF (legals).


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