Global travel and event management company The Appointment Group (TAG) is the subject of a primary buyout by private equity firm Apiary Capital.
TAG says Apiary’s investment will aid its growth plans, which includes acquisitions, investment in technology and staff and international expansion.
The news comes as TAG announces the appointment of new CEO Steve Barrass, who will join the TMC on 1 August. Barrass was previously senior vice president for new ventures at dnata Travel, part of the Emirates Group.
In addition, TAG co-founder Maurice Veronique will step down from the company’s board, while co-founder John Gianquitto will remain in the business on a day-to-day basis as founder and president.
Existing CFO Nick Stone will also join the board.
Gianquitto commented: “This is an incredible milestone for TAG. Apiary’s investment will enable the group to accelerate its growth through technology investment and expansion into new markets, whilst maintaining its reputation for peerless levels of customer service that everyone has come to expect from TAG.”
Nicki Boyd, partner at Apiary Capital, added: “Our investment and Steve’s appointment is testament to the impressive business John and Maurice have built together. As a UK company operating in a fragmented market, but with an excellent platform for growth, TAG fits perfectly within our investment sphere.
“We wish Maurice well and thank him for his involvement in securing our investment. We very much look forward to working with John and Steve as they build on the tremendous success the business has achieved to date.”