Established in 2005, WRG designs, produces and delivers highly innovative live events for a breadth of global blue chip clients. It specialises in product launches, summits, ceremonies, live broadcasts, bespoke installations and marketing services, including creative design, branding consultancy, web-services and film & digital services.
The fast-growing firm is headquartered in Manchester with additional UK offices in London and High Wycombe, and overseas bases in New York and Doha, Qatar. It employs over 110 permanent staff – including event producers, art directors, designers, marketing specialists, film producers and editors, together with an international bank of specialist freelance professionals.
The company has deep and broad sector experience, particularly in pharmaceuticals, IT and energy. WRG is also renowned for having conceived, produced and delivered globally televised live events such as the G20 Summit in 2009 and the 2010 Papal visit, two of the most high profile UK events in recent years.
With LDC’s support, WRG will launch a targeted buy-and-build strategy in the UK and internationally to further increase its presence in the growing global corporate live events industry and add further specialist skills to its creative offering.
Barry Day, Chief Executive Officer at WRG, said: “High demand for our differentiated, experiential communications offering has seen us quickly grow into a niche, global business, supporting the marketing ambitions of some of the world’s largest brands.
“Our commitment to creativity, enviable record of successful delivery and ambition to enter new and exciting overseas markets has been central to our success to date. LDC’s investment provides a platform to further expand both our suite of services and our geographical reach – particularly in the emerging key markets of central and eastern Asia.
“LDC has a strong track record of helping UK businesses deliver both successful buy and build and overseas growth strategies. They are the ideal strategic partner with which to achieve our ambitious growth plans.”
WRG has appointed Jim Faulds, founder of Scottish marketing firm The Faulds Group, as Non-Executive Chairman and Michael Grade, the former BBC Chairman as Non-Executive Director.
Faulds founded The Faulds Group in 1985 which, by 2001, had grown to be the largest UK marketing services group outside of London. He has held Non-Executive positions at a number of private equity backed businesses including oil and gas consultancy Wood Mackenzie and Giles Insurance Brokers. He currently chairs Ainscough Crane Hire and AIM-listed I-Design.
Lord Grade brings a wealth of media and marketing industry experience to the role having previously been CEO of Channel 4 and Executive Chairman of ITV plc. He currently holds chairmanships at Ocado plc, James Grant Group plc and Pinewood Shepperton plc.
The transaction was led by investment directors Simon Braham and Jon Pickering of LDC. Braham, who will join WRG’s board, commented: “WRG benefits from a highly experienced and passionate management team, which has generated impressive growth, attracted a portfolio of blue chip clients, and successfully integrated a number of acquisitions.
“Building on this success, we will support the company’s buy and build strategy and international expansion. We are confident that WRG can realise considerable growth over the coming years.”
The deal represents LDC North West’s third transaction in 2011, following its £93million exit from British Salt to Brunner Mond, and its investment in musicMagpie.co.uk, the purchaser and multi-channel retailer of replay CDs, DVDs and games.
Carl Wormald, head of LDC in the North West, said: “Our investment in WRG, as our third transaction in the region this year, stands to emphasise the global strength of North West corporates and our buyout market. We have a healthy pipeline of opportunities and remain optimistic for the outlook for the rest of the year.”
LDC’s investment in WRG – which closely follows its management buyouts of water cooler supplier Angel Springs and beauty accessories business Original Additions in July – is its 10th transaction nationally in 2011, bringing its equity commitment to UK SMEs to over £200 million.
15 August 2011
Issued on behalf of LDC by Citypress:
Martin Currie Dave Lafferty
Citypress Citypress
T. 07976 291 532 T. 0161 235 0318 / 07545 211 511
E. martin.currie@citypress.co.uk E. dave.lafferty@citypress.co.uk
PR to WRG - Smoking Gun PR:
Rick Guttridge / Ben Ormsby
T: 0161 839 1986
E: media@smokinggunpr.co.uk
Notes to editors
Advisers to the investor:
Clearwater Corporate Finance (Mike Reeves, Nick Horrocks and John Clarke) – Buyside advisors
Ernst & Young (Richard Harding and Stuart Thwaites) – Financial due diligence
PWC (Nick George, Mark Maitland and Anna Bartz) – Commercial due diligence
Addleshaw Goddard (Paul Medlicott and Andrew Green) - Legal