A&A Group in management buyout

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Sister title PostOnline revealed that the deal, which is understood to have valued the business at between £60m-£70m, was subject to change of control approval from the Financial Services Authority.

The MBO led by Tony Allen, A&A Group's CEO, involves the rest of the senior management team reinvesting significantly into the transaction. It was previously owned by four board members.

The article noted that on completion, Ian Chippendale will be joining the group as chairman. He was previously the

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