Graphite backs Teaching buyout

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Graphite Capital, the UK mid-market private equity specialist, has emerged as the backer for the £45m management buyout of Teaching Personnel.

The country's third largest provider of supply teachers and support staff to schools was previously owned by RJD Partners, a rival buyout group. Teaching Personnel has a network of 32 branches, and supplies teachers, teaching assistants and nursery nurses on a short- and long-term basis to 4,000 primary and secondary schools in England and Wales.

The agency sector in education now accounts for an estimated 45 per cent of the teaching supply market. John Bowman, managing director of Teaching Personnel, said: "We were impressed by Graphite's track record in the sector and their operating style." He added that the company had "ambitious growth plans in a market ripe for consolidation". Mike Tilbury, senior partner of Graphite, said the business had "excellent" growth potential.