A Manchester-headquartered private equity firm, which has invested in the likes of Total Fitness, has backed a management buyout at a consulting and services company in London.
NorthEdge has supported the move at ICP which also has offices across Europe, Asia, and North America.
The business provides marketing and creative operations consulting and services to global brands such as Coca-Cola, Dyson and Starbucks.
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Kevin O'Loughlin, NorthEdge investment director, said: "Christopher is a progressive, partnership-minded CEO with whom we've built a strong relationship.
"He has demonstrated that he's a strong leader with a brilliant team around him, resulting in long-term relationships with some of the most sophisticated brands globally.
"ICP is another business services investment in our portfolio that operates in an emerging and exciting market, with huge potential for growth and innovation."
Christopher Grakal, CEO of ICP, added: "We've delivered a strong track record of growth over the last few years, including in the US, and we want to maintain this momentum.
"For us, finding the right partner for our next phase of growth was critical, and from the outset it was clear that the NorthEdge team understood our business and the market in which we operate.
"Alongside that, NorthEdge has an impressive track record of investing in businesses and supporting them on their growth journey whilst maintaining a strong focus on people and culture, so I am confident they are well-placed to help us execute our ambitious plans and I look forward to seeing where the partnership takes ICP over the next few years."
Adrian Smith, who founded ICP in 1988 and has been its chairman over that period, said: "I leave in the knowledge that ICP will continue to grow and be even more successful in the hands of its Incredibly capable people."
Mr Smith will be stepping down from his role but will remain a minority shareholder.
He will be succeeded as non-executive chair by Bernie Segal.
