private equity

Foster Denovo retains control with private equity deal

Foster Denovo will benefit from up to £100m to grow the business through acquisitions as part of a private equity deal and insists it will “retain control”.

American firm Crestline Investors will take a minority stake in Foster Denovo. While the national advice firm did not confirm the exact percentage of the stake it said it does not require regulatory permissions or a change of control. The initial investment from Crestline will be £30m but Foster Denovo will have access of to up to £100m.

Speaking to Money Marketing, Foster Denovo chief executive Roger Brosch said: “We will still be owned, led, and managed by the original founders, which is unusual in our space now.

“A minority deal structure was a must have for us. We’ve got a five-year plan. If we do it a bit quicker, great. If it takes a bit longer, it’s not the end of the world. It’s more important we get it right. That was our key driver to retaining control.”

Read the full article on Money Marketing  here.