Spencer Ogden gains investment from MML Capital Partners
MML Capital Partners (MML) has invested in Spencer Ogden to support the next phase of growth.
Spencer Ogden has more than 400 employees across 12 international offices focusing on four key verticals – renewables, power and utilities, built environment and oil and gas. Continued investment in key areas such as renewables, combined with the ongoing technical skills shortage across the energy sector, has driven strong growth within Spencer Ogden, which has seen EBITDA increase by 45% year on year. MML's investment in Spencer Ogden will support the businesses ambitious organic growth plan in core specialist sectors, whilst maintaining its reputation for excellence in delivering niche talent and developing key client partnerships.
Richard Mayers and Rob Devonshire will join the board of Spencer Ogden on behalf of MML alongside executive management and Ed Ogden (as representative of the Ogden shareholding).
The Clearwater International team, who advised on the deal, consisted of partner and international head of business services, Marcus Archer; director, Helen Lowe; director, Mark Maunsell; senior associate, Dan Shrimpton; and associate, Gregory Cornes.
Bradley Lewington, CEO of Spencer Ogden, said, “I'm very excited to be partnering with MML for the next part of the Spencer Ogden journey. The investment is most certainly a vote of confidence in our future success and people. I would also like to pay tribute to and thank the co-founders, David Spencer-Percival and Sir Peter Ogden, both of whom will remain shareholders and supporters of the business moving forward.”
Richard Mayers, partner at MML, commented, “We are delighted to announce our investment in Spencer Ogden. We see Spencer Ogden as a specialist player in a fast-growing and dynamic sector. We are excited to partner with CEO Bradley Lewington and his strong leadership team to continue building on the impressive progress they have made to date. We intend to further support the company’s organic growth in core markets and locations whilst staying true to its people focused led business.”
Marcus Archer, partner and international head of business services at Clearwater International, added, “I first met Brad back in September 2017 and remained close to the business as Brad and his team implemented their business plan to reposition the business and implement some operational changes. The progress Brad made in a very short space of time was hugely impressive and I was delighted to be able to introduce Brad to MML to explore an MBO that would allow him to incentivise his management team and benefit from the insights and professionalism that MML bring to the table. We thoroughly enjoyed working with Brad, the management team and MML to drive what we believe is a great outcome for all involved.”
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