Causeway backs UK recruitment tech MBO
Dublin-headquartered private-equity firm Causeway Capital has backed a management buyout of UK-based GTI, a specialist provider of technology and information products for the graduate recruitment market in Ireland and the UK.
The deal is Causeway's seventh investment from its initial €50m fund, which has yet to be exhausted.
Founded in 1988, GTI has over 600 customers and delivered revenue of more than £15m (€17.4m) in the year to April 2018. It has 250 employees in Ireland and the UK.
Members of the GTI management team will become shareholders in the business alongside co-founder Mark Blythe and Causeway Capital. Matt Scaife and Pierce Casey of Causeway will also join the board of GTI.
Causeway was launched in 2015 to invest in growing small and medium companies in Ireland and the UK. It manages funds on behalf of pension funds, investment funds and financial institutions.