Transaction
Prowse & Co Development
Surrey based Prowse & Company Limited, a respected and successful PR and economic development consultancy, was subject to a management buy-out last year with the support of Meta Corporate Finance and Warners Solicitors.
As MD, Joanne Rogers already possessed a minor shareholding in the company, having been brought by chairman and major shareholder, Peter Prowse, as a succession planning manoeuvre.
The Prowse consultancy is well regarded for its long standing PR and economic development representation for both private sector firms and international government agencies, including the Patent Office and the DTI.
When Jo Rogers joined Prowse, she brought with her wide ranging experience in both PR and marketing with a career ranging from her early days at the BBC and worldwide agency Hill & Knowlton to later operating as a director and MD at two successful regional agencies in the south-east. Her acquisition of Prowse, with the support of her business psychologist husband, represents a natural progression to benefit Prowse and its clients.
Meta Corporate Finance managed and structured the buy-out through Peter Counsell, who comments, “It was a pleasure acting for Jo in the buy-out of Prowse. The business is a strong proposition, and Jo’s strength and professional approach made for a successful transaction.”
Jo Rogers responded, “Taking the helm at Prowse provided a new and very welcome challenge. The consultancy’s direction will be to continue to capitalise on our expertise and reputation while developing new opportunities using our various areas of experience and knowledge in corporate communications. All of us at the agency are proud of its hard-earned reputation which extends to international markets from Australia to the US.”
Rogers continued, “The original plan when I joined Prowse was to take over full ownership of the company over a five-eight year timescale, but this was brought forward and could not have been achieved without the support from Meta. They used their skills, experience and contacts superbly to define and negotiate an appropriate financial model overcoming various hurdles on the way.”
Client:
Prowse & Co
Service:
- MBOs/MBIs
Region:
UK
Sector:
- Food & Beverage/Leisure & Tourism
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