Headhunter Odgers Berndtson’s management team has the financial backing to buy a majority stake in the business from parent company OPD Group.

Investec Private Bank Growth & Acquisition Finance has agreed to provided a revolving finance facility and acquisition finance term loan, to enable the partial buy-out (50.5%) to go ahead. OPD will retain the remaining stake.

The deal, involving the management and other relevant shareholders, will see OPD paid a total of £16m.

James Cullen, Investec Private Bank, says: “This has many of our key deal elements including providing value to vendors and supporting future value creation for shareholders and employees. Odgers Berndtson is a compelling business with a tremendous brand. We are delighted to provide our support to an outstanding management team that is a perfect fit with our strategy of supporting the entrepreneurial class.”

Richard Boggis-Rolfe, chief executive of Odgers Berndtson, says: “Since the acquisition of Odgers Berndtson by OPD in 2005, we have exceeded our performance expectations. Now, as part of a commitment to developing Odgers Berndtsons’ business in the long term, we are keen to create an equity interest for our management and staff.”