Gresham backed James Grant Group acquires First Artist Management

Gresham Private Equity, the UK mid-market private equity specialist, today announces that James Grant Media (“JGM”) part of one of its most recently backed investments, James Grant Group (“JGG”), has acquired the business and assets of artist representation agency First Artist Management (“FAM”).

FAM has been acquired from First Artist Corporation for a total consideration of £200,000 less a post completion working capital adjustment of up to £25,000 satisfied wholly in cash.

In August 2009, Gresham backed the management buy-out of five of Formation Group PLC’s

nine businesses; James Grant Media Ltd, O J Kilkenny & Co Ltd, Proactive Sports Management USA Inc, Formation Sports Capital Ltd and Proactive Sports Management Ltd to create James Grant Group Limited.

James Grant Group is a leading provider of management and professional services to the sports, music and entertainment sectors, representing the likes of Ant and Dec, Holly Willoughby and Piers Morgan.

The acquisition of FAM is part of a growth strategy led by JGG Management team and Gresham.

Commenting on the acquisition, Andy Marsh, Partner, Gresham commented: “Supporting businesses that want to grow through acquisition is something in which we have an established track record. First Artist Management is a great addition to JGG perfectly complementing its existing portfolio of companies.”

Neil Rodford, Chief Executive of JGM, said: "We are delighted to have acquired this business from First Artist. Today's move will see James Grant Media extend its management reach by establishing new genres of television representation."