UK - MidOcean restructures bezier group

MidOcean and management, led by David Mitchell, have invested the new capital , while RBS and Lloyds, bezier's existing lenders, have extended the terms on the company's debt and renegotiated its covenants.

Wakefield-based bezier is a retail marketing agency that provides services from brand planning and creative campaign development, through to in-store implentation to full evaluation of a campaign. The company, which was founded in 1998, employs 950 people across nine sites in Leicester, Leeds, London, Poole, Thurrock and Wakefield. Its turnover is approaching £100m for the 2009/10 year.

David Mitchell will join the company's board as executive chairman, with Trevor O'Reilly and Alistair Stewart coming on as well.

MidOcean acquired bezier in 2005 for £77.7m. RBS and Lloyds provided the debt package to fund the transaction.

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• Topics
• Expansion
• UK / Ireland