Private equity firm Inflexion is gearing up for a double sale process of consultancy business Rhead Group and specialist travel business Griffin Global, just months after offloading three other companies, according to people familiar with the process.
Earlier this year Inflexion floated claims company National Accident Helpline, cashed out in the listing of IT services company FDM and recently made more than double its money on the sale of technology group Phlexglobal. Inflexion is also exploring a £200m flotation of budget travel site On The Beach.
Rhead Group, which provides consultancy services to the infrastructure and construction sector, reported a turnover of £47.5m and pre-tax profits of £5.6m for 2013. Griffin Global, which acts as a travel agent for marines, cruise ship workers and oil riggers made a turnover of £4.1m in 2012, its last available accounts, but made pre-tax profits of £10.3m largely resulting from dividend receipts from other subsidiaries. Inflexion declined to comment on the sale processes.
Inflexion’s intense level of activity comes as figures from BDO, the accountancy and business advisory firm, which reveal that dealmaking in the private sector has fallen to the lowest level on record. This is primarily because of the revival in London’s listing market, which provided companies with a higher valuation than achieveable in an outright sale.
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