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The Appointment Group bought out by Apiary Capital

The buyout sees the appointment of a new CEO at TAG, Steve Barrass

Pictured: new TAG CEO Steve Barrass

The Appointment Group (TAG) has been bought out by private equity firm Apiary Capital.

The buyout sees the appointment of a new CEO at TAG, Steve Barrass, who will join the business in August to drive the firm’s growth plans. Barass will be joining from dnata Travel (part of the Emirates Group), where he was senior vice president for new ventures. 

Following Barrass’ appointment, Maurice Veronique, co-founder of TAG, will step down from the board while co-founder John Gianquitto will remain in the business on a day-to-day basis and take the role of founder and president. Existing chief financial officer Nick Stone also joins the board.

The buyout marks Apiary’s first investment after raising £200 million in UK deals. TAG believes the investment will drive transformational growth for TAG through acquisitions, further investment in technology and people, as well as continued international expansion. 

Nicki Boyd, partner at Apiary Capital, said: “Our investment and Steve’s appointment is testament to the impressive business John and Maurice have built together. As a UK company operating in a fragmented market, but with an excellent platform for growth, TAG fits perfectly within our investment sphere.   

“We wish Maurice well and thank him for his involvement in securing our investment. We very much look forward to working with John and Steve as they build on the tremendous successes the business has achieved to date.”  

Co-founder John Gianquitto added: “This is an incredible milestone for TAG. Apiary’s investment will enable the Group to accelerate its growth through technology investment and expansion into new markets, whilst maintaining its reputation for peerless levels of customer service that everyone has come to expect from TAG.”

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