Baird Capital Partners Europe agreed to buy another international recruitment service.
The U.K.-based buyout fund manager of Baird Private Equity purchased London-based SR Group for an undisclosed amount. Two of Baird's current portfolio companies, Nigel Wright Group and Synarbor, are also recruiting companies. Baird acquired Nigel Wright in November 2010, and invested in Synarbor in October 2002.
SR provides international recruitment services to the legal and financial services markets. The company operates in Europe, Asia, Australia and the Middle East.
Beechbrook Capital provided the debt financing for the deal. Baird plans to use its international network to expand SR's business in Europe and Asia.
Baird Private Equity is the global private equity group of Robert W. Baird & Co. and invests in lower-middle market companies.In February 2011, Baird sold another London recruitment agency, Aston Carter, to the Allegis Group.
Baird reportedly made a 2.5 times return on the original Aston Carter investment.