The College Group Limited, a London, UK-based business communications consultancy, has received a private equity investment of undisclosed amount from Vitruvian Partners LLP, valuing the business at approximately £45m.
The company plans to use the funds to expand both by service and by geography.
Following the close of the transaction, the management and staff, led by CEO Richard Nichols, will continue to retain a substantial equity investment in the business, in partnership with Vitruvian.
Alex Sandberg will step down as Chairman and from day-to-day management but will remain with the business, focusing on working with clients and the development of the Group’s Business Communications practice.
Toby Wyles and Ben Johnson, Partners at Vitruvian, will join the College Group board.
From its core practice of Business Communications, incorporating both capital markets and corporate brand building PR, the company has expanded its service to clients into four further complementary practice areas including:
– government and regulatory affairs,
– employee engagement,
– strategic research, and
– branding, design, reporting and digital.
The College Group today employs over 300 people supporting clients out of 13 owned offices in Europe, Africa, Asia and the US, with an annual turnover of £40m.