18th October 2006

Dow Schofield Watts has advised on the management buy-out of Parasol Limited funded by funds managed by Inflexion Private Equity, the management and HSBC.

Parasol is the largest pure PAYE umbrella business in the UK employing over 6,500 flexible employees. Established in 2000, Warrington based Parasol provides services to freelance contractors in the IT, telecoms and related technology sectors.

Inflexion- managed funds have invested £9.4 million for a majority equity position. Management, led by Rob Crossland has invested significantly and a £12 million debt package was provided by HSBC.