Paramount Interiors Management Buyout
Back in November 2017, we introduced Paramount’s new MD, Richard Jones.
Far from being new to the business, Richard has been a big part of Paramount for the last ten years and he’s now taking us into new and exciting times ahead.
As you might have seen in a recent Insider Media article, Richard led a management buyout (MBO) to acquire the business.
Supported by lead advisers Verde Corporate Finance and Greenaway Scott, the transaction was backed with funding from ABN Amro, along with further investment from GS Ventures.
He’s therefore now the very proud owner of Paramount Interiors.
Richard’s vision is to build on the company's success, ensuring that it fulfils its potential and continues to achieve year-on-year growth.
Here’s what Richard had to say on the subject: "I am very excited about what the future will hold for Paramount, myself and the management team as a result of the MBO. We have an exceptional team of people, strengthened by our recent investment in new young talent within our Sales and Office Design teams, who take a huge amount of pride in working together with our clients to ensure we achieve the highest possible standards.
"The MBO allows us to invest further in our people, our facilities and the service that we provide to our clients to ensure that we continue to be one of the best in our field."
The previous owner, Nigel Roberts, will remain involved as the non-executive chairman of Paramount Interiors in addition to his role as director of Cardiff Parkway Developments.
Left to right: Nigel Greenaway - director of Greenaway Scott; Craig Blackmore – director of Verde Corporate Finance; Richard Jones – MD of Paramount Interiors; Kelvin Thomas – sales director at ABN Amro
MBO Lead Advisers
Verde Corporate Finance director Craig Blackmore said it was a "privilege" to assist Richard Jones and his team. He added: "Paramount Interiors has developed a UK-wide reputation for creating innovative workspaces that transform businesses, so we were delighted to be able to support them as they embark on the next phase of their journey.
"The MBO was highly successful and will no doubt enable Richard and his team to build on the fantastic work that Paramount Interiors is renowned for. It was a privilege to work alongside them and we wish them every success."
Nigel Greenaway, director of Greenaway Scott, said: “We were delighted to assist Richard and the management team at Paramount, and also have shown our belief in the exciting future of the business by making a follow-on equity investment via GS Ventures into Paramount as part of the management buyout process."
Keep watching this space for more news on what will surely be an eventful future for Paramount.
Posted by Helen Bartlett on
3 July 2018 at 10:00 AM