NVM sells Intelling for 4.0x multiple

NVM Private Equity (“NVM”) announces that it has sold Intelling to the London-based investment firm RDCP Group (“RDCP”) delivering a 4.0x return against the cost of the original investment.

NVM first backed Intelling in 2017 when the company was delivering business process outsourcing (BPO) and communications services to a range of clients, including a major contract with O2.

As a result of both investment and additional Board support, the company has been transformed into a £40 million turnover, tech-enabled business employing more than 1000 staff at multiple sites, both in the UK and overseas. The company now counts blue-chip companies such as Vodafone, TalkTalk, Serco and Experian as key clients alongside its established relationship with O2.

The existing management team led by Phil Morgan, Craig Winnard, Steve Taylor, Glenn Seddington and Kerry Anderson will retain a large stake in the business and work closely with RDCP founders, Sameer Rizvi and Iryna Dubylovska, on Intelling’s future growth strategy. Phil Morgan, who is the CEO and Founder of Intelling, will retain a 20.4% stake in the business.

NVM’s exit from Intelling is providing its investors with a 4.0x return on investment and is NVM’s fourth exit in less than 12 months following the IPO of musicMagpie (providing a return of 12.1x); IAG, delivering an attractive industry return; and Agilitas, which delivered a return of 8.4x.

This latest deal is RDCP’s seventh acquisition in the last 18 months, following its purchase of Chilango, Ancient House Printing Group and multiple acquisitions for RDCP Infrastructure. RDCP now controls $350 million of investments across multiple sectors in the UK.

Phil Morgan, Founder & CEO of Intelling, said: “We are pleased to embark on the first step of our strategic partnership with RDCP, which will support Intelling’s ambition to increase our client base and improve the accessibility of our services by providing innovative, affordable and technically advanced BPO services to businesses across the UK and extend our international presence even further. What really appealed to me was RDCP’s approach to long-term investments. Partnering with Sameer and Iryna provides us with the right platform to continue building an even more successful business.”

Sameer Rizvi, Founder & CEO of RDCP Group, said: “I couldn’t be more excited about the Intelling acquisition. Six months in the making, this is our largest acquisition to-date and a major milestone for RDCP Group.”

Karl Cockwill, Portfolio Director at NVM said “The Intelling team has delivered exceptional growth over the last few years, and we are delighted to have been part of that journey providing NVM’s investors with a 4.0x return on their investment. The management team, led by Phil, have done a fantastic job in growing the business into a major employer in the North West, and we wish them well on the next stage of their journey with the new investment from RDCP.”