We are delighted to announce that our portfolio company, Miss Group, the international digital solutions provider, has appointed Stephen Halstead as its new Chief Financial Officer (CFO).
We acquired a majority position in Miss Group in February 2020 to support the business through international expansion and ongoing M&A. Miss Group has in turn delivered consistent growth against its ambitious buy-and-build plan, with revenues now in excess of SEK one billion and with EBITDA margins of +40%. It has expanded to encompass more than 25 brands across multiple territories, employing more than 350 people worldwide.
Stephen Halstead joins Miss Group from Aker Systems, and will replace Mark Kerswell who has stepped down from the role after four-and-a-half years but who will remain with Miss Group in an advisory role for the next six months.
As the new CFO for Miss Group, Stephen will be responsible for overseeing its strategic growth as it seeks to reach ambitious milestones including achieving SEK2 billion in revenue.
Commenting on the appointment, Miss Group founder, Mattias Kaneteg, said: “We are delighted to welcome Stephen to the business as CFO. He brings a wealth of experience from past CFO roles across high-growth international digital businesses and his considerable knowledge and skill will undoubtedly help us to achieve our goals.
“I would like to thank our outgoing CFO Mark Kerswell for his years of service to the business. Mark was instrumental in the business’ successful sale to Perwyn and has led an impressive 20 acquisitions in his time with the company, overseeing an increase in EBITDA from €8m to €40m in that time and helping us achieve a landmark SEK1 billion in revenue in 2023.”
CFO if Miss Group, Stephan Halstead, added: “I am thrilled to be joining Miss Group as CFO and look forward to helping the business continue its impressive growth trajectory in the coming years. As a fast-paced business with significant potential, Miss Group is a very exciting place to be, and I am excited about the possibilities for this business in the future.”
Mark Kerswell added: “It has been a great journey, but with growth milestones reached, the support of Perwyn in place, and with new M&A in the pipeline to take the business through the next phase of growth, now is the right time for me to pass on the baton to a new CFO. I look forward to following Miss Group’s future success.”
Mark Blower, Partner at Perwyn and Miss Group Board member, said: “Miss Group has delivered exceptional growth over recent years thanks to the expertise of its leadership team, and I am sure that Stephen will be a significant asset as the business looks to expand further in the coming years.”