Matrix SCM (‘Matrix’), the leading managed service provider for the outsourced hiring and management of temporary local government staff in the UK, has received new growth investment from Bridgepoint Development Capital (‘BDC’).
Founded in 2008 and based in Milton Keynes, Matrix is a technology-enabled services business with a differentiated and market leading position in the UK where it acts as a neutral intermediary between clients - typically local government organisations known as Local Authorities ('LAs') - and a nationwide pool of approved recruitment agencies, vetted to ensure compliance with relevant regulations. The model it operates is highly attractive to this customer base, offering visibility and control of recruitment spend, high fulfilment rates and access to a large number of accredited candidates.
Commenting on the transaction, Matrix SCM Director Mark Pepper said: "This investment provides us with the firepower to accelerate our growth plans by allowing us to invest in our technology platform and make selective acquisitions to enhance the value we offer to our customers."
Matt Legg, Director at Bridgepoint Development Capital, added: "The Matrix team has demonstrated a track record of strong annual revenue growth and has a leading position in an attractive, resilient market. In partnership with BDC it is now well positioned to drive growth further as well as target new sectors within the broader professional and specialist consultancy procurement market."
Advisers involved in this transaction included:
For Bridgepoint - DC Advisory (corporate finance), Ropes & Gray (legal), CIL (commercial), BDO (financial & tax).
For management - Mazars (corporate finance), Squire Patton Boggs (legal).
The investment in Matrix was made by the Bridgepoint Development Capital III fund.
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