Better Capital Fund II (LSE:BC12) managed by Better Capital PCC Limited acquired OfficeTeam Limited from a consortium of lenders for £80 million in cash on July 25, 2014. The sellers include Babson Capital Europe Limited, Co-operative Bank plc, Candlewick Asset Management, Royal Bank of Scotland Group plc, Asset Management Arm and Bank of Ireland Asset Management Limited. The consideration is on a debt free basis. OfficeTeam Limited reported annual revenue of £142 million and a pre-exceptional EBITDA of £13 million for the year to December 31, 2013. Nathan Brown of Numis Securities Limited acted as financial advisor to Better Capital PCC Limited. Justin Griffith and Carmen Murray of Powerscourt acted as public relation advisors to Better Capital PCC Limited. Giles Elliott of Jones Day acted as legal advisor to OfficeTeam. Tom Astle, Guy Potel, Lucy Robinson, Helen Davies and John Holme of Hogan Lovells acted as legal advisors for the sellers. MacFarlanes and Tom Astle, Guy Potel, Lucy Robinson, Helen Davies and John Holme of Hogan Lovells acted as legal advisors for the sellers. PricewaterhouseCoopers acted as financial advisor for Better Capital. Gleacher Shacklock LLP acted as financial advisor for OfficeTeam.

Better Capital Fund II (LSE:BC12) managed by Better Capital PCC Limited completed the acquisition of OfficeTeam Limited from a consortium of lenders on July 25, 2014.