Management Buyout of Recipero from TransUnion

Gloucester based Recipero, which provides a range of solutions for fraud prevention and crime investigation, is back in the private hands of its former owners following a management buyout from U.S.-based, TransUnion, the global information and insights Company. Recipero was originally purchased by CallCredit in 2016, prior to TransUnion’s acquisition of the U.K. bureau.

The current Recipero management team of Chief Operating Officer Les Gray and Chief Technology Officer Steve Shepherd have purchased the business – which operates in both the U.K. and the U.S. – from TransUnion.

Recipero, which was established in 2000, has enjoyed consistent success providing data solutions to detect and prevent theft and fraud in the world’s mobile device communities.

The deal was managed by a consortium of firms including Shaw & Co, Roxburgh Milkins and Shawbrook Bank.

Led by Shaw & Co, the deal was fully debt funded with Recipero’s management team keeping 100% equity of the business. Speaking about the deal, Shaw & Co Managing Partner Jim Shaw said: “We are pleased to acquire Recipero from TransUnion.”

Shaw continued: “Working with TransUnion and management to co-ordinate this deal was a pleasure. The solution we collectively arrived at will stand the business in great stead for the future with all parties satisfied with the result.”

Acting for Recipero’s management team on the legal aspect of the transaction, Roxburgh Milkins’ Corporate Partner Bruce Roxburgh commented: “Having supported Les and Steve through the deal, we look forward with interest to seeing them use their experience and focus to take advantage of opportunities as a stand-alone company in this important and dynamic market.” 

Financing for the deal was provided by Shawbrook Bank Limited and was the Bank’s first cashflow-based senior debt deal for the region which supported a MBO.

Shawbrook’s South West Regional Director, Oliver Jenkins, stated: “We are absolutely delighted to have played our part in this management buy-out. Introduced to us in early December, we had a very short timeline for the deal to be concluded. However, through a focussed approach, concentrating on key aspects of the business, we managed to conclude the deal successfully to everyone’s satisfaction and in good time.”

The return of Recipero to its former owners allows for a smooth transition, enabling management to continue building its loyal client base, spanning both public and private sectors, without disruption.