Exit for Astbury Marsden founder
The entrepreneur who founded the business in 1995 bows out
Recruitment firm Astbury Marsden has undergone a £17.5m management buy-out providing an exit for its founder.
Paul Marsden set up the banking recruitment company in 1995 and has attracted major clients such as Barclays, UBS and JPMorgan to the company since then.
However, now he has sold his 80% stake in the business to a management team backed by private equity house NVM which has invested £5.6m.
The buy-out was led by Jonathan Nicholson who has been with the business for nine years and Mark Cameron who has become its chief executive.
“After successfully overcoming the recession of 2002/03 when trading conditions became difficult, Astbury Marsden has grown strongly and we now service a number of leading investment banks,” Cameron said.
“The MBO gives us the funding that will allow us to take advantage of growth opportunities in our markets and a partner in NVM who is committed to our future growth can only help us to achieve that.” Nicholson and Cameron were advised on the deal by business advisors Livingstone Partners and law firm EMW, further banking facilities can from HSBC.
NVM took advice from Wragge and Co. and due diligence was undertaken by Baker Tilly.
© Crimson Business Ltd. 2007