Advising RJD Partners on management buyout of Improve International

UK Private Equity investor RJD Partners has backed the management buyout of Improve International Limited (“Improve”), a global provider of continuing education to the veterinary sector.


Capital Law’s Corporate team, led by Tom Kelleher, working with senior associates, Laura Spendiff and Gareth Williams-Davies advised RJD Partners on this, their third Education & Training investment from RJD’s third buyout fund.

Improve provides specialist postgraduate courses and qualifications, as well as continuing professional development training, to veterinary professionals. The online training is delivered directly in eight countries, and through license partners in a further six.

RJD has taken a majority stake in the business, investing alongside Improve’s management team led by Chief Executive, Heber Alves and original founder David Babington. RJD will work closely with the company to further develop its customer propositions, including its digital delivery, and build an infrastructure to support further international growth both organically and via acquisition.

Frank Bulman, Emily Henderson and Richard Caston worked on the investment for RJD, and Frank and Emily will be joining the board of Improve.

Frank Bulman, Partner at RJD Partners, said:

We are delighted to have completed the Improve MBO with Capital Law whose existing relationship with the management team was very helpful in terms of our interest. They provided us with first class advice and support on what was a complex cross border carve out from a larger group finding efficient and creative solutions to challenges as they emerged.

Tom Kelleher, Partner at Capital Law, said:

We’ve known both Improve and RJD for many years, and were delighted to have had a role in introducing them. The collegiate way in which this deal was negotiated and RJDs relationship with the management team, was a textbook example of the way in which a process can help, and not hinder, a properly negotiated deal. This is RJD’s style, we know, as well as of the Improve team – and we look forward to this excellent management team working with RJD in their usual way to build a really first-class, international, business.


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