News Room
21 May 2008
Aberdeen Asset Managers Growth Capital invests in TC Communications
Aberdeen Asset Managers Growth Capital (“Aberdeen”) has led the management buy-out of TC Communications Limited (“TCC”), a leading independent marketing and communications agency. Clients of Aberdeen invested £1.6m in the transaction.
Based in Ascot, Berkshire, TCC employs over 50 people providing a broad spectrum of innovative marketing services to clients in the consumer, aviation and property sectors. The company’s blue-chip client base includes O2, Mizuno, Virgin Atlantic Cargo, Menzies Aviation and Charles Church.
The company was founded over 20 years ago by husband and wife team, Tim and Ceri Trueman. The company is growing strongly and the deal enables the founders to realise a portion of their capital whilst retaining a significant minority interest in the business.
The team is led by Mathew Keane who has been with the business for over 14 years. Tim Trueman will remain with the company as Chairman and the board will be complemented by the appointment of Peter Smith as non-executive director. Peter has held several senior roles in the aviation industry including CEO of Menzies Aviation. Neil MacFadyen of Aberdeen also joins the board.
Aberdeen provided equity funding of £1.6m alongside management, with HSBC providing banking facilities. The transaction was led by Aberdeen’s London based Growth Capital team of Neil MacFadyen and Ned Dorbin. HW Corporate Finance introduced the deal to Aberdeen and advised the vendors.
Mathew Keane, Managing Director of TC Communications, said:
“We are delighted to have Aberdeen on board, having recognised their strength in supporting businesses like ours achieve their potential. Against an uncertain economic backdrop, TCC is growing strongly and the whole team is committed to delivering exciting, innovative and, most importantly, effective marketing solutions to our expanding client base. ”
Neil MacFadyen, Investment Director, Growth Capital, Aberdeen said:
“TCC is one of the UK’s leading marketing services businesses and we were attracted to the company’s impressive client list and strength and depth of the team’s client relationships. We are looking forward to working closely with Mat and his team as the business enters an exciting phase in its development.”
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