Press Release
05 January 2009
Nova Exits Models1
Nova Capital Management, the specialist acquirer of corporate and private equity portfolios, is pleased to announce the successful exit of a strategic equity stake in Models 1, the largest model and talent agency in the UK and Europe, to US private equity firm OpenGate Capital, for an undisclosed sum.
Models 1 was part of ‘Third Private Equity Fund' portfolio which Nova has managed since 2004. This is the sixth business Nova has exited from the Fund.
Founded in 1968, Models 1 has grown to become the largest and most successful agency in Europe and one of the top and most respected agencies in the world boasting iconic models including model of the year Agyness Deyn, Amber Valetta, Linda Evangelista, Yasmin le Bon and Twiggy.
Patrick Austen, operating partner, Nova commented:
"We are delighted to have worked with Models 1. The business has a strong management team who have taken the business from strength to strength. We wish them every success for the future.
This exit demonstrates that successful businesses remain highly attractive in difficult market conditions."