New CFO appointment for digital solutions provider Miss Group as it looks to next phase of growth
Miss Group, the international digital solutions provider, has announced the appointment of a new CFO as it looks towards its next phase of growth.
Stephen Halstead has joined the business from Aker Systems, and as CFO will be responsible for overseeing Miss Group’s strategic growth as it seeks to deliver against its ambitious financial targets.
Mark Kerswell, who joined Miss Group as CFO in July 2019 and has led the business through a rapid phase of M&A and organic growth, with EBITDA increasing fivefold from €8m to €40m, will remain with Miss Group in an advisory role for the next six months.
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 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 in 2020 and has led an impressive 20 acquisitions in his time with the company, establishing a robust financial infrastructure, overseeing a rapid increase in EBITDA, and helping us achieve a landmark SEK1 billion in revenue in 2023.”
CFO Stephen Halstead added: “I am thrilled to be joining Miss Group as CFO and looking forward to helping the business continue on 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.”
Miss Group, which is headquartered in Stockholm and founded in 2014, has delivered consistent growth against an ambitious buy-and-build plan, with revenues now in excess of SEK 1 billion and with EBITDA margins of +40%.
The business has expanded to encompass more than 25 brands across multiple territories in recent years and employs more than 350 people worldwide.
Mark Kerswell, added: “It has been a great journey, but with our initial growth milestones now reached, with the support of Perwyn 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 Stephen. I look forward to following Miss Group’s future success.”
Perwyn, a leading European private equity investor, acquired a majority position in Miss Group in February 2020 to support the growth ambitions of the business through international expansion and ongoing M&A.
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.”