The Week: City News - Creston MBO moves forward

A second private equity company has approached Creston, the owner of Delaney Lund Knox Warren & Partners and Tullo Marshall Warren, to support its management buyout.

The marketing services group confirmed last month that it was talking to an undisclosed private equity company. It is understood that the second company is Cartesian Capital Group, which already has a 10 per cent stake in the group, and which wrote to Creston's board to declare its interest. Don Elgie, the founder and chief executive of Creston, is leading the talks for the estimated £40 million buyout.