Press Release
15 January 2009
Nova exits award winning communications agency
Nova Capital Management, the specialist acquirer of corporate and private equity portfolios, is pleased to announce the successful exit of aia, a leading employment and recruitment communications agency, in a trade sale to a subsidiary of TMP Worldwide Advertising & Communications, LLC, a New York-based company, and the largest global independent operator in the sector. aia is neither owned by nor will be connected with TMP Holdings Limited (TMP UK) - another privately-owned advertising company.
aia is the second business to be exited in the last month from ‘Third Private Equity Fund' portfolio which Nova has managed since 2004. This brings the number of businesses Nova has exited from this Fund to seven.
aia is an award-winning recruitment advertising agency responsible for the planning, creation and placing of press, online and other media solutions for the employment needs of a range of major clients. Based in central London its clients include John Lewis, Virgin Atlantic, J. Sainsbury, Toyota, the FSA and QinetiQ.
Patrick Austen, operating partner, Nova commented:
"We are pleased to have worked with aia over the last four years and contributed to its success. TMP Worldwide Advertising and Communications, LLC is a natural fit for the business and we wish aia every success."