Fleet News

Major funding for FMG

FMG Support has secured £7 million from Aberdeen Asset Managers Private Equity (AAMPE) in return for a significant minority stake in the company.

Seven of the FMG Support board and management team have also become new equity holders in a partial management buyout.

The additional financial resource will be used to help FMG deliver additional products and services, as well as expansion into new and complementary markets.

“The additional funding provides us with the financial base on which we can deliver against the full potential of our strong market position,” said Nick Brown, chief executive, FMG Support.

“We now have the backing and financial support to…develop new products and services that will change the dynamic of this industry.”

Colin Stirling, director of investment at AAMPE, added: “FMG Support is a high quality business that we have been shadowing for some time and we are really pleased to have the opportunity to support the team in the next phase of its development.”

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