Mon, 09 Jun 2014 | MBO/MBI
A management team at The fresh Group has bought the company with a view to provide continuity and growth.
Nick Porter and Julie Besbrode founded the Cheshire-based creative agency in 2004. The pair has now completed a sale of the £13.6 million turnover business, with Manchester firm NVM Private Equity backing the team of Patrick Howells, managing director; Antony Wilson, financial director; and Damian Besbrode, operations director.
The fresh Group is a media agency that produces events, designs, videos, digital, exhibitions, print and advertising for its customer base. Over the last decade it has grown from an initial team of four to now employ over 85 staff.
The MBO, which was for an undisclosed sum, will look to help the company continue its impressive 30 per cent year-on-year growth. Managing director Patrick Howells says the buyout from the trio also plans to strengthen its position as a specialist agency for the retail sector while expanding into other verticals.
In a statement Mr Howells said: “We are delighted to be given the opportunity to complete the management buyout, which is another positive step for the business and very fitting that we should achieve this in our 10th year. The whole team is focused on strengthening our position as a leading creative events agency.
“We look forward to building on the success of the 2013 financial year, a record year, with another strong performance in 2014 financial year, having recently secured new relationships with the likes of Home Retail Group and Dixons Carphone amongst others, building towards new business sales of well over £3 million.”
The exiting Mr Porter and Ms Besbrode will leave the business but retain an investment in fresh.
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