UK - The Evenser Group, the UK's largest event services company, has announced a refinance and restructure package agreed with its majority shareholders (comprising funds managed by Candover) and its principal bankers. Evenser will demerge the companies that make up the Broadcast and Presentation Services divisions to a newly incorporated company to be called Blitz Charter Group Ltd ('Blitz'). Following the restructuring, Blitz will operate as an entirely independent broadcast and presentation services group and Evenser will operate as an independent events services group.

Following the demerger, the Evenser Group will consist of Arena Event Services Group and Melville Exhibition Services, headed by David Walley and Nick Marshall respectively. The new Blitz Charter Group will comprise Blitz Communications and Charter Broadcast, which will be headed by Paul Hutton and David Carr.

The restructuring has been prompted by the differing requirements of the two parts of the group as they move forward and is designed to allow each part to focus on its core business, innovating in the market sector it knows best. Evenser and Blitz will continue their working relationship without the constraints of a group structure, say the company.

Barry Day, CEO of Evenser Group commented: "In the current market conditions it's essential that we focus on what our clients want and what we are best at. The restructure allows us to do just that."(Lee Baldock)


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