Portfolio News

LDC-backed SPS hits £150m turnover for the first time

The diversified recruitment group Specialist People Services (SPS) has accelerated its global growth plans after securing £150m turnover for the first time. The group has recorded a 10 per cent increase of revenues year-on-year across all of its businesses, including Driver Hire Nationwide, one of the UK’s biggest suppliers of drivers and logistics staff seeing an 8 per cent increase from 2016/17. Its international arm, Driver Hire Australia, has also continued to go from strength-to-strength, reporting record sales of £12m, up £5m from last year.

The growth in revenue was largely due to strong demand for temporary works in the logistics and rail sectors as well as new contract wins with national, blue chip clients. The business is now looking ahead at further growth in the US market.

Chris Chidley, the chief executive of SPS, said: “This is the first time the group has passed the £150m mark and it represents a real show of strength from our teams.

““Looking ahead, we are confident that this growth will continue. Our business is well-positioned with a strong client base who trust us to deliver, a talented management team, supportive shareholders and highly-skilled, motivated employees. With these foundations in place, we have all we need to continue this upward trajectory.”

The SPS group has more than 30 years’ experience in providing specialist recruitment services and has been backed by LDC since 2011. Mr Chidley added: “I can’t speak highly enough of LDC. They were founded as a regional private equity business. It’s not just the money, it’s the support they give you.”

Article Footnotes

Notes to Editors

  1. LDC is part of the Lloyds Banking Group and is authorised and regulated by the Financial Conduct Authority
  2. LDC back ambitious management teams from UK-based companies seeking between £2m and £100m of equity for management buy-outs, institutional buy-outs or development capital transactions.
  3. LDC invests in a broad range of sectors and has particular experience in Construction & Property, Financial Services, Healthcare, Industrials, Retail & Consumer, TMT, Travel & Leisure and Support Services.
  4. LDC has a UK regional network of 9 offices.