Fresh Group completes MBO

Events agency The Fresh Group has completed a management buyout from founders Nick Porter and Julie Besbrode.

Events agency The Fresh Group has completed a management buyout
Events agency The Fresh Group has completed a management buyout

Fresh’s three-strong management team of managing director Patrick Howells, financial director Antony Wilson and operations director Damian Besbrode have been backed by Manchester-based NVM Private Equity in funding the MBO.

Founders Porter and Besbrode will be departing the business and will retain an investment in Fresh. Besbrode will continue to work for Fresh in an ongoing client consultancy role.

In 2013, The Fresh Group reached a turnover of £13.6m and is on track to deliver a 30% year-on-year growth plan.

The fresh Group’s Managing Director, Patrick Howells, said: "There was a lot of interest in Fresh from many different avenues but out of a multitude of options the team at NVM, headed up by Andy Leach, couldn’t be more suited to the Fresh team.

"We are delighted to be given the opportunity to complete the management buyout. We look forward to building on a record 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 £3m."

Exiting Chairman, Nick Porter added: "The past ten years have been an incredible experience and one I will never forget. We’re delighted that fresh will continue to be lead by an amazing group of people that we know will deliver the next stage of growth and will drive The fresh Group to even greater heights. Julie and I both believe that the time is now right to hand over the reigns."

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