FDM Group sale process to begin in autumn

FDM Group, an IT services provider with many household name clients, is to be sold this autumn by its owner.

Inflexion Private Equity purchased the Brighton-based IT firm for £33 million, taking it private in early 2010. It is now ready to be placed on the market for £200 million.

FDM has enjoyed strong growth since it was delisted from the junior Aim stock exchange. Its operating profits were up by 50.9 per cent last year to £16.3 million on sales approaching £100 million, up by 16.2 per cent.

It is understood that Inflexion is going to bring in a corporate adviser to manage the sale process, likely to be KPMG.

FDM Group counts HSBC, Virgin Media and British Airways amongst its clients. It has made a success of many large firms’ decision to outsource IT consultancy work to bring costs under greater control. It has been cited by a Sunday newspaper as one of the 20 fastest growing mid-market private equity-owned groups in Britain.

FDM has a presence in several locations - London, Manchester, Zurich, Luxembourg, Frankfurt, New York, Singapore and Hong Kong.

The biggest IT graduate employer in the UK, it specialises in project management office, development, application support, testing, technical/bespoke training and infrastructure.

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