Astbury Marsden, which provides professionals to the banking sector, has been bought by its management for £12.5 million.

Astbury Marsden, which provides professionals to the banking sector, has been bought by its management for £12.5 million.

NVM Private Equity invested £5.6 million in the deal, which sees founder Paul Marsden sell his majority share of the business. Debt was provided by HSBC.

The buy-out was led by Jonathan Nicholson, who has worked for Astbury Marsden for the past nine years, and chief operating officer Mark Cameron. The two re-invested all their equity in the deal.

Cameron said as well as backing the deal NVM has provided the additional funding needed to help the company take advantage of the growing demand for its services in the global banking sector.