The deal is the London-based equity company’s second investment in Scotland in 18 months after it backed the £40 million management buy-out of Superglass in August 2005. Mark Owen and Lawrence Dean led NBGI during the deal.
The CRG management team was led by chief executive Suzanne Ramsay and includes Colette Hartie, Laura Drysdale, Allan Dickson and Owen Shearer. Former chairman of Directorbank Tim Moynihan will join CRG’s board as chairman.
CRG was founded in 1970 as Douglas Llambias Associates. Based in Glasgow, it also runs an office in Edinburgh. The company owns four divisions called Change CRS, The Resource Group, Change Solutions and Change International.
The company is looking at growth in the domestic and international markets. It also aims to improve its financial and operational support, add more product lines and move into new sectors. Ramsay says: ‘This is an exciting time for Change – there is so much potential for growth, both within the Scottish market and further afield.’