By Kevin McCauley
The College Group, the London-based corporate, financial services, PA and regulatory affairs firm with more than 300 staffers, has sold a majority stake to private equity firm Vitruvian Partners.
The deal is worth $70M.
Toby Wyles, managing director at VP, told the Financial Times that his firm is "trying to find niches that are going to grow even if the world stays a rather strange and volatile place." He sees CG as a platform for both organic and acquisition expansion.
CG has 13 offices in cities such as New York, Sao Paulo, Jeddah, Dubai, Hong Kong, Mumbai and Tokyo. Annual turnover is more than $60M.
With the deal, Alex Sandberg, TCG chairman, steps down to down to serve as a consultant.
CEO Richard Nicholas will remain at the helm, believing that access to VP’s cash will accelerate plans to acquire complementary business partners and talent.
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