Copyright Promotions completes MBO

Senior management at licensing agency Copyright Promotions Group have completed an MBO of the firm, acquiring the equity interest from US-based venture capitalist Beringea.
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Beringea backed management in a buyout in 2001 and owned a significant minority equity share in the group.

Current management, led by chairman Matthew Wheeler and chief executive Kirk Bloomgarden (pictured), now has 100 per cent of the equity in CPLG.

Bloomgarden said: "Beringea have been a very good partner for us. They enabled the MBO and we are most grateful for their support and guidance over the past four years. We are very pleased to have been able to provide them with a profitable exit at this time.

"Recent results have put the company in a strong position both financially and strategically and we are now well placed to move forwards in the next stage of our development."

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