Vitruvian Partners, a private equity firm that invests in Northern European companies, has invested in business comms specialists College Group. The deal values College Group at £45 million, or about $70.2 million according to today’s conversion rate. College Group owns the PR firm College Hill. According to The Holmes Report, that firm had nearly £25 million in fee income in 2010.
College Group has about 300 staffers across Europe, Asia, Africa, and the U.S. The firm says more than 25 percent of clients currently use two or more practices and one-third of staffers are based overseas. Company chairman Alex Sandberg told The Holmes Report that the company would like to “continue our geographic spread, and in turn that will bring us opportunities and businesses.”