£150m ‘agency to the stars’ snapped up by private equity firm

TAG’s current owners Apiary Capital said it was in line to make a four-fold return on its investment when the deal with ECI Partners completes. Specifics of the deal were not disclosed on Wednesday (10 April).

Business media reports last year suggested ECI Partners were among TAG’s potential suitors, with the agency – formerly known as The Appointment Group – thought to be worth £150m.

With the backing of mid-market private equity investor ECI, the agency – which employs more than 450 people worldwide – said it was poised for further expansion under its new ownership.

Apiary Capital’s deal for TAG was announced in October 2018 and was the private equity firm’s first investment after raising £200 million in the UK.

The deal saw former Gold Medal chief executive and dnata Travel Group senior vice-president of new ventures, Steve Barrass, join TAG as its chief executive. Barrass left TAG in April 2022.