The Appointment Group (TAG) announces Apiary Capital’s primary buyout of the company
The Appointment Group (TAG), the award winning global travel and event management company, is delighted to announce Apiary Capital’s (“Apiary”) primary buyout of the business. This will be Apiary’s first investment after raising £200m in UK deals.
TAG is excited about Apiary’s investment; this will drive transformational growth for TAG through acquisitions, further investment in technology and people, as well as continued international expansion.
TAG is also announcing the appointment of a new CEO, Steve Barrass, who will join the business on 1stAugust to drive the firm’s growth plans. Steve will be joining from dnata Travel (part of the Emirates Group), where he was Senior Vice President for New Ventures.
Following Barrass’ appointment, Maurice Veronique, co-founder of TAG, will step down from the board whilst co-founder John Gianquitto will remain in the business on a day-to-day basis and take the role of Founder and President. Existing CFO, Nick Stone, also joins the board.
Commenting on the deal, Nicki Boyd, Partner at Apiary Capital said: “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 successes the business has achieved to date.”
Co-Founder, John Gianquitto added: “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.”