CVC Capital Partners announced today that they have agreed to acquire Domestic & General Group in partnership with the existing management team.
Completion of the transaction is subject to regulatory clearances and is expected to take place during Q4 2013.
CVC is one of the world’s leading private equity and investment advisory firms. Founded in 1981, CVC today has a network of 21 offices and 280 employees throughout Europe, Asia and the US.
In a joint statement, Pev Hooper, Partner at CVC and Peter Rutland, Senior Managing Director at CVC said: “We are very pleased to be investing to acquire D&G alongside management. John Pearmund and his team have built a great business, with real long term growth potential. We look forward to working with them and using CVC’s international resources to help take D&G to the next stage of its development.”
John Pearmund, Chief Executive of D&G said: “We are delighted to have CVC as a partner as we enter the next phase of our company’s growth. We very much welcome the support, opportunities and resources which CVC will bring to D&G to enable us to build further on our success to date in the UK and internationally.”