Recruitment firm Phaidon International agreed to be acquired by a global investor consortium led by funds managed by Further Global. Phaidon’s current sponsor, Quilvest Capital Partners, will exit the business, with management retaining a significant stake.
Further Global’s investment, supported by client funds from Neuberger Berman, Pictet and OPTrust, will be used to fuel Phaidon’s growth beyond 1,400 staff and 15 offices worldwide by the end of the year.
Financial terms were not disclosed.
Quilvest acquired Phaidon in 2018.
“Quilvest have been a fantastic partner for our business over the last four years,” said Phaidon CEO Harry Youtan. “Their sponsorship has been invaluable to us as we have grown and scaled our commercial platform, whilst deepening our sector expertise. Looking forward, we are excited to partner with Further Global alongside a truly special group of investors whose experience, network and sophistication is impressive and will help our acceleration over the next phase of our journey.”
Phaidon is based in London and has 14 offices across the US, Europe and Asia. It ranks as the seventh-largest direct-hire firm in the US. Phaidon’s US business, based in New York, ranked No. 23 on SIA’s 2021 list of Fastest-Growing US Staffing Firms.