College Group receives investment from Vitruvian Partners

College Group has received a new investment from the independent private equity group Vitruvian Partners.

Around 45 million pounds is being contributed by the investor to help the media agency expand its talent base and global reach, with College Group's staff set to retain a substantial equity investment in the business.

Following this move, College Group's chairman Alex Sandberg will step down as chairman and move away from the day-to-day running of the company, while Vitruvian partners Toby Wyles and Ben Johnson will join the board.

This investment comes after a four-year period in which the company has more than trebled in size, with more than 300 staff members supporting clients from 13 offices around the world.

Its clients include ten FTSE 100 companies and eight of the world's top 100 brands.

Richard Nichols, College Group chief executive, said: "We will continue to look for businesses and talent who want to share in our ambition to be one of the select few international business communications consultancies serving the world's leading organisations."