Private equity firm FPE Capital has sold Kallidus, a human capital management Saas provider, for a 3x return on its investment.
The sale of the business to Apse Capital generated a 31% IRR return for FPE funds.
FPE invested in Kallidus in 2015 and since then the business has grown rapidly. During this time it also acquired Advorto, a SaaS recruitment provider, which took it into the recruitment sector.
Kallidus is headquartered in Cirencester and its software is used to hire, manage and develop employees in the workplace.
Henry Sallitt, Managing Partner of FPE, said: “It has been fantastic to see Kallidus grow and to be part of its development as it benefits from its major investment into the core software platform and expanded product offering.”
Rob Caul, CEO of Kallidus, added: “We are delighted with the support FPE has given us, helping us grow organically and through acquisition.”