Wednesday, June 18, 2008

Neil consortium buys PFD

A consortium of investors led by Andrew Neil has completed the purchase of leading talent agency PFD from CSS Stellar, reports Stephen Brook for Media Guardian.
The agency's chief executive, Caroline Michel, and her team will stay with the company and become shareholders.

"It is a really good investment opportunity. It has had a rough time recently but it has an excellent team led by Caroline Michel, who is the best in the business, and a back book which generates a strong stream of royalties," Neil said.

"PFD will offer a one-stop shop for talent, which makes it unique in London. The agency's senior management will become stock holders in the company and share in future rewards. The rough times are over and they can now be secure with a new ownership and a forward-looking vision."
Earlier this year 35 ex-PFD agents left to form United Agents.

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