The management team of mclcreate, one of the UK’s largest integrated live events company, has completed a management buyout of the business from the NEP Group, Inc. for an undisclosed sum.
“This is a huge and exciting opportunity for mclcreate,” said Tim Spencer (pictured), the new CEO of the company and former managing director of the business.
NEP Group acquired mclcreate’s parent company Avesco in January 2017. Based in Pittsburgh, US, NEP Group is one of the world’s largest outsourced production partners, supporting premier content producers across the broadcast and live events industries.
“I would like to thank Avesco, our previous owners, and, subsequently, NEP Group for their support in making this deal happen. Now, we can focus clearly on Mclcreate. No one else has our capabilities and we are fully primed for a new era in event delivery,” Spencer added.
Mclcreate is a well-established events and creative solutions business, trading in the UK and worldwide for the last 25 years.
Spencer said the team is delighted that they can now take the future of the company forward “as an independently owned business with the freedom and flexibility to grow the company, take advantage of market opportunities and realise its full potential”.
Mclcreate’s expertise and experience is founded on rewarding live event partnerships with major organisations, including Royal Mail, Ricoh, Swinton, Epson to name but a few.
The company has its own in-house technical equipment, the expertise to support these relationships with its customers and also offers a wider suite of digital, creative and account management services to provide a complete solution.
Mclcreate offers nationwide and international coverage from offices in London, Birmingham, Manchester, Edinburgh and Glasgow.
Kevin Rabbit, CEO of the NEP Group, commented: “We wish Tim and his team success with this exciting new opportunity. We acquired the Avesco Group, which included the mclcreate and Creative Technology (CT) businesses earlier this year.
“The addition of CT was consistent with NEP Group’s strategy to become the worldwide leader in the live event industry, supporting premier content producers.
“This management buyout allows CT Group in Europe to focus 100% on our core live event solutions and clients while enabling Tim and his team to further grow the mclcreate business.”
Commenting on the news, Dave Crump, CEO of CT Group, said: “Mclcreate has been a significant part of our group for many years. I have got to know the business and, most importantly, their people very well. I’m pleased that this deal will allow mclcreate to continue to develop and focus on growth under Tim’s direction and independent ownership.”