Equistone sells A-Plan stake to HgCapital
Broker chief says it is "business as usual" for the firm.
Private equity firm Equistone Partners Europe has sold its majority stake in A-Plan to HgCapital - another private equity investor - for an undisclosed sum.
Equistone invested in A-Plan in 2008 when it backed an MBO of the business which enabled the management to take a 32% stake.
Since then revenues have increased from £44m to approaching £73m for the financial year ending February 2015.
In the period the broker has opened 19 new branches and increased headcount by 380 to over 970 employees.
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