Kumar and Lodestar have bought out the business from the family of its founder, the late Peter Franks, for an undisclosed sum.
The transaction has provided the business with an appropriate funding structure to facilitate the exit of the principal family shareholders, and will help to support the management team’s future growth strategy. TFI Group will continue to operate from its current office facilities in Vauxhall Bridge Road, London SW1.
Commenting on plans for the business, Kumar said: "We expect to continue with our current business strategy, with further organic growth anticipated. Our team continues to build a strong pipeline of attractive opportunities with major organisations trusting TFI Group to manage events that are business-critical to them. We are currently exploring a number of potential opportunities and the MBO allows us to look forward and control our own destiny."
The MBO was facilitated by Keith Baker of KCB Consulting who said: "This is a significant next step in the evolution of TFI Group. The management team is excited by the opportunities currently presenting themselves to TFI Group and I have been delighted to play a part in realising the deal."
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