
UK - Vitruvian completes first deal with £55m acquisition of Latitude
Vitruvian Partners has completed its first deal, acquiring a majority stake in marketing agency Latitude Group Ltd as part of the £55m management buyout of the company.
Vitruvian held a first close of its debut fund on EUR 424m in March 2007. The fund is targeting a final close of EUR 1bn with the expectation of targeting deals worth up to EUR 500m. It is understood that two-thirds of the fund will be dedicated to the UK with the remainder targeting Northern Europe. Vitruvian was established last August by former Apax manager Toby Wyles along with two other former Apax partners and executives from BC Partners and Bridgepoint.
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