Sparta Global
Background
Sparta Global started life as Testing Circle, specialising in the recruitment of permanent and contract staff for software testing assignments.
From this foundation Testing Circle quickly evolved into Sparta Global – providing trained computer science graduates for deployment with their clients.
Our involvement
Due to a previously successful assignment with the Train and Deploy market leader FDM where we advised on their listing on AIM we were engaged to advise on the early stage development for Sparta Global.
Our approach
We supported the Board in a number of areas - strategic framework for the development of the new business area, financial investment needs and the organisation structure to drive what was then a new business concept..
This involved bold decision making by the board to fully transition from a recruitment business into a genuine technology consultancy delivering solutions to medium and long term talent needs for its clients.
The outcome
Over a relatively short period the business achieved good traction whilst at the same time identifying key areas for development
The board recognised that to accelerate growth additional funding would be needed. We supported Sparta Global in raising PE investment funding from Key Capital Partners (KCP).
Since that initial investment the business has continued to grow and become a major player in this field. It was announced in October 2020 that KCP partners had been replaced by the Private Equity firm Inflexion.
hallam medical
Background
Hallam Medical (HM) is a specialist medical staffing firm specialising in the deployment of Advanced Nurse Practitioners (ANPs) mostly into the primary care sector. The business was founded in 2007 and our involvement began in 2013 when the HM board recognised that they had an opportunity to become the market leading provider to the NHS and the Private Healthcare sector of ANPs, a community of nurses at the summit of the nursing profession undertaking many duties more normally recognised as the responsibility of doctors.
The HM board’s challenge was how to grow the business, taking market share but at the same time maintain strong cash flows and premium margins. HM shareholders were very clear that they had a 2–5 year plan to de-risk themselves through an investment event.
Our approach
Following a series of discovery meetings, we felt that the company had a genuine opportunity to build a market leading business in their chosen sector. Their clinical knowledge, commitment to service quality and their engagement strategy with the ANP community was clearly ahead of their competition. The challenge was, could they maintain these advantages whilst aggressively growing the business.
We set out a development programme based around three key deliverables,
- Develop a 3 year strategic plan to take the business to a point where it was deploying 500 ANP and other nursing grades on a mix of full and part time assignments.
- Design and implement an organisation structure to support the strategy which would then be capable of taking the business to the next level
- Plan the financial performance of the company through the growth phase and build a case to attract inward investment over the same period
The Outcome
The three-year strategic plan centred around building a broader geographic footprint. The company had built a strong market presence in the east side of the country from the South Midlands to North Yorkshire. However, through market research it was clear that a presence in the South of the country, particularly London, would be required to drive the volumes in the strategic plan.
This would require recruitment at a senior level to open up that market which in turn would mean a reorganisation of the business at board level. Director’s roles were re-defined, and an additional director was hired to specifically head up the Southern growth programme.
This investment in a new operation together with the resulting growth in transactions presented a number of organisational and financial challenges. In collaboration with the board we developed a new Management Information (MI) suite as well as a fundamental change to the way the business engaged with and delivered to its clients.
Through the changed organisation structure and by managing the business through the new MI suite we were able to not only grow revenues but also retain premium levels of conversion from Net Fee Income to EBITDA.
As a result of our work, we were able to raise £5.3m in a mix of bank debt and Private Equity enabling the shareholders to achieve the first stage of their de-risk strategy
