A £2.5m funding package from Santander Corporate & Commercial led by Riana Azam of Santander Invoice Finance, has enabled Leeds-based market research and insight services agency Trinity McQueen to complete the final stage of a three year MBO process as well as providing the business with working capital for further growth.
The transaction, which completed on 30 September 2016, formed the final part of a deal structured by Ian Parsons of Wakefield-based Parsons Chartered Accountants and assisted by Jonathan Simms and Sarah Harrison of Leeds law firm Clarion, which began in April 2013.
Trinity McQueen is an award winning business which specialises in the retail, FMCG, digital, technology and finance sectors and serves a number of blue chip clients such as; Asda, Jet2, Dixons Carphone, Royal Mail and TalkTalk. With a turnover of £5.5m, it employs 45 people across its offices in Leeds and London.
The MBO team leading the business is headed by joint managing directors Robin Horsfield and Anna Cliffe who have now completed the purchase of all shares in Trinity McQueen.
Joint managing director of Trinity McQueen, Robin Horsfield, said: “It is great news that we have reached this milestone - we have worked very closely with Parsons and Clarion since they put together the deal for us three years ago and we wouldn’t have got here without them. It’s also good to have support from Santander which will accelerate our investment in people, technology and creative services to expand our business here in Yorkshire, across the UK and into new, international markets.”
Ian Parsons of Parsons Accountancy commented: “I’m really pleased to see this long and innovatively-structured deal reach completion. It has been a pleasure to work with Robin and Anna - Trinity McQueen has a bright future ahead in such able and experienced hands.”
Jonathan Simms of Clarion added: “Having been involved in this MBO since the start, its’ really satisfying to see it reach a successful conclusion. Trinity McQueen has established a reputation as a leader in its field and this deal will enable the agency to realise its ambitious plans for further growth and international expansion.”
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Picture shows (L to R): Rob Horsfield of Trinity McQueen; Dan Houman of Santander; Ian Parsons of Parsons Accountancy; Riana Azam of Santander Invoice Finance; and Anna Cliffe of Trinity McQueen
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