Not one to shy away from speaking out ,
Nineteen Group CEO Peter Jones , says Covid-19 was the best thing to happen to events businesses . From Nineteen ’ s ever-expanding Wimbledon office , Jones says : “ I ’ ve no medical background – I ’ m not talking about the health side , but commercially I think Covid-19 is the best thing that ever happened to the events world . It flattened the events world , smashed it into the canvas , but we have got up stronger . It has proved like no other test could have done ; how valuable contact is . There ’ s three things as a human being you need , food , water and human contact . It ’ s why when you ’ re first born they put you in the arms of you mother or father . That ’ s not changed in two million years and there is no virtual or digital that will replace that . “ When we opened the shutters at the Emergency Services Show in September , we didn ’ t know what to expect . All the speculation over whether visitors would return was extinguished . There was a tsunami of thousands of people . That moment we realised ‘ wow , people need to be together ’.” Group managing director Alison Jackson agrees : “ The look of joy on everyone ’ s faces . They wanted to be with their tribe , not at a virtual drinks party .” Phoenix invested in Nineteen in November 2018 – attracted , Jones says , by the ‘ high performance and hugely ambitious ’ culture of his business . Jackson came onboard at the same time and they started making acquisitions . Since then , they have continued to grow . And grow they have . They did not cut a single job during the pandemic – and have now increased their staff from 22 to 66 , have just beaten their January targets and are aiming to grow
Nineteen to the dozen
Nineteen Group are the poster child of owner run trade show businesses backed by private equity . Peter Jones and Alison Jackson told Emily Wallin how support from Phoenix Private Equity had given them the chance to grow with unstoppable speed
organically – aside from acquisitions – a further 66 % this year . Despite warnings not to get in bed with private equity , Jones listened to his long-time mentor Phil Soar ’ s advice before taking the leap in November 2018 . “‘ Don ’ t do it ,’ is what all my family and friends warned . There ’ s always a sharp intake of breath . There ’ s a warning about private equity , ‘ those guys are ruthless ’,” he says . “ The reason it appealed , and it ’ s not going to be for everyone , is it a highperformance culture , and we ’ re a hugely ambitious business . Some owner / drivers are very happy running a lifestyle business , they have very comfortable lives and great shows . I respect that but in the private equity ( PE ) world there ’ s a hyper-ambition for growth . It also gives you the luxury of not working for someone else , it still feels like your own gig , but with an inexhaustible amount of funding behind you . Literally limitless funding behind you to grow . In the UK there is a trillion pounds sat in PE bank accounts undeployed . “ PE houses are under huge pressure and their biggest challenge is to deploy capital . If they find a target , like Nineteen , then their will to deploy capital is huge . It gives you the luxury to be able to build , to be creative , it removes the normal worries of fretting Monday to Sunday over cash flow , robbing Peter
20 — March