Teaching Personnel, an education sector staff supply company, has been put up for sale by private equity owner RJD Partners, as it looks to double its investment.
RJD backed a £24m management buyout three years ago from Barclays Private Equity. Adviser Clearwater Corporate Finance believes that RJD can get around £50m for the business and has approached potential buyers.
Founded in 1996, Teaching Personnel provides teachers from its 30 branches to cities all over England and Wales. Between 2006 and 2008 profits grew from £2.6m to £4.6m.
Rival private equity groups are expected to be the most likely bidders, with one industry source saying around six realistic contenders should emerge.
RJD has raised more than £250m in funds for investment since it started nine years ago. Investments include a £20m purchase of textiles manufacturer Character World and £28m for IT services outfit Stone Group.
RJD declined to comment.Reuse content