Established in Wheatley in 2002, Mike Morgan and his management team have built a bespoke HR solutions business specialising in voluntary benefits, employee engagement, and health & wellbeing. With more than 400 customers and one million users, People Value caters for the needs of owner-managed SME businesses right through to enterprise-level customers.
The investment from Ethos Partners and senior debt from Harwood will allow the Vendor to take a step back from day-to-day management, commencing a phased exit towards retirement, whilst aligning interests of the management team with the shareholders.
“It was a pleasure working with Mike and Andy as they looked to move the business on to its next chapter. People Value is an excellent platform with strong prospects, which resulted in bids being received from around the world. Ultimately the opportunity for Andy to lead an MBO whilst enabling Mike to share in future growth proved too attractive so an Ethos backed transaction trumped some excellent trade bids.”
“We certainly didn’t understand the full extent of the support that Polestar would provide when we set out – It is easy to believe that your business is ready for sale just because it is operating well, profitable and expanding. Richard’s experience proved invaluable in the early identification of critical areas, giving us time to collate and verify supporting data so we could present information in a buyer-friendly way. Polestar secured great offers from both the UK and overseas – it was nice to have a choice of bids well above our initial expectations!”
In the final run in, both Richard and Charlie were quick to find workable solutions to the inevitable deal issues that arose. Without their support, we could not have completed the transaction within the desired time scale.