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Andrew Cope leads management buyout at FMG

Andrew Cope
Andrew Cope lead a management buyout at FMG which opened the door for Redde

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1 May 2015

Andrew Cope leads management buyout at FMG
Andrew Cope joined FMG in April last year and is leading the buyout

ANDREW Cope has led the management buyout of FMG, the specialist in incident management and roadside recovery, for an undisclosed value.

The Yorkshire entrepreneur joined FMG in April 2014 as executive chairman, having led Zenith, the vehicle leasing business, through five successful private equity buyouts between 2003 and 2014.

Under the deal, Cope now increases his investment and shareholding in FMG, with John Catling, CEO, and the rest of the senior management team also increasing their shareholdings. Founder, Nick Brown, remains a significant shareholder, while institutional investor Spirit Capital has sold its stake, which it acquired in 2008, and has been replaced by private equity house Endless.

We are on the cusp of some very exciting developments at FMG and this is a great time to complete the buyout and accelerate the growth in the business

Cope said;

“We are on the cusp of some very exciting developments at FMG and this is a great time to complete the buyout and accelerate the growth in the business. We believe we can shake up the industry and that’s what we intend to do, delivering great service for our clients.

“We were very lucky as we had a lot of investors keen to support our plan, for which we are very grateful.

“We chose Endless to invest with us as they have a remarkable way of transacting, which is so much faster and more attune with what management teams want than anything I have experienced in the six buyout processes I have now been involved in.”

Endless announced it had raised a new fund of £525 million to invest in buyouts, non-core acquisitions from larger groups and re-financings, in December last year. The fund is supported by a range of global investors, including some of the best known universities and the family offices of some of the most successful entrepreneurs in the world.

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