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FMG Support listed in Buyout Track 100
9 February 2009
Spirit Capital Partners (Spirit) is pleased to announce that portfolio company FMG Support has been included in the 2009 Sunday Times Deloitte Buyout Track 100, published yesterday.
The annual league table, now in its third year, features the 100 British private equity-backed companies with the fastest growing profits to September 2008. Companies are ranked according to compound annual growth in profits over two years, based on their latest available figures.
Spirit originally invested £7million in FMG Support in February 2008 to deliver its ambitious growth plans and, since the investment, has succeeded in winning heavyweight contracts with Lloyds TSB Autolease and the Highways Agency. FMG Support’s new role as the Highways Agency’s first ever National Vehicle Recovery Manager went live in the first of seven regions across England last month.
Nick Brown, Chief Executive, FMG Support commented: “We have enjoyed an immensely successful 12 months and have already fulfilled several major ambitions. Our contract wins with the Highways Agency and Lloyds TSB Autolease reflect our continued focus on innovation and people development, which is enabling FMG Support to become increasingly recognised at a national level.”
Colin Stirling, Partner, Spirit Capital, commented: “We have had the pleasure of supporting FMG Support throughout its success over the last 12 months in particular and achieving this national recognition is well-deserved. FMG Support has a strong, comprehensive growth strategy in place and we look forward to continuing to support the business to deliver against this in the future.”