Frederick Achom

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Frederick "Freddie" Achom (born 22 January 1974) is a British businessman and technology investment entrepreneur based between Paris, Mumbai and London. He is the co-founder and chairman of the Rosemont Group, a private investment group with a portfolio of companies with interests in biotechnology, web based technology platforms,[1] wine trading, land and property development[2] and the Mumbai stock exchange listed renewable energy and micropower provider, Communication Power Engineering Company (CPEC) group, to more high profile ventures in the entertainment sector.

Achom was listed as one of the 1000 most influential Londoners in 2010 by The London Evening Standard[3] and again in 2011.[4] For 4 consecutive years he has been listed as one of the top 100 most important black business people in the UK. Since 1982, Achom has been living in London, England. Besides his business activities, he is also engaged in non-profit activities.[5][6]

Early life[edit]

Achom was born in Lagos, Nigeria in 1974 to a housewife mother and insurance broker father.[7] The youngest boy of a family of 3 boys and 1 girl, he spent his early years living in Lagos. His father is a prominent businessman and major shareholder of Inland Bank of Nigerian[8] and a politician in the Eastern region of Nigeria. At the age of 8 Achom along with his three siblings, was sent to boarding school in England, attending Grenham House boarding school in Burchington in Kent and then St. John’s prep school in Staffordshire, England. Achom briefly studied Medical Science at University before leaving to pursue a life in business. Driven by what he called ‘a hunger to create and his interest in business rather than a necessity to work’,he left his studies to train as a financial sales consultant, working for numerous companies in financial district in the city of London.

Early Business interests[edit]

In 1997 Achom and several partners started a business development and strategic funding consulting agency aimed at SME's called City Business Partners. City Business Partners was sold nearly 3 years later to the EGC Group netting Achom and his partners a figure thought to be in the region of 9 million pounds.[9]

Achom is an avid collector of fine wine and In 2001 he started one of the first alternative investment advisory agencies focusing on fine wine as an alternative asset to traditional investments such as equities and bonds.[10] The venture was short lived as the market was untested and at the time seen as highly speculative, therefore not well received by financial regulators. Within its first year Boington and Fredericks was closed, along with seven other such companies, in the public interest.[11] Though the market still remains unregulated and can be a minefield for investors, he has since gone on to established himself within the sector and is seen to have been vindicated by the success and growth consistency of the market since his first foray.[12] In 2012 his Rosemont Group’s wine asset management subsidiary companies, which span the UK, Australia and China, were reported to have over 50 million pounds of wine assets under management.

In addition, Achom went on to invest in several media related ventures and publications including the UK’s first leisure directory called The Leisure Pages. Achom also invested heavily into developing a land and property development portfolio before diversifying into Investment sales and consultancy by acquiring Property Clinic Group and Universal Properties in 2008. He was also one of the early investors in the UK arm of luxury Italian kitchen designers and builders, Pedini, which was sold in 2010.

Rosemont Group[edit]

In 2003 Frederick Achom founded Rosemont Group Capital Partners (Rosemont Group).[13][14] Rosemont's Group primarily focus was joint venture investments and equity funding for technology start ups and growth stage development, luxury goods & services, restaurants, exclusive members only clubs and financial sales.[15]

In 2012, Achom re-aligned Rosemont Group’s core investment focus to opportunities in early and growth stage technology, biotechnology and clean technology companies in developing markets. Rosemont Group acquired a large stake in renewable energy services company (RESCo), Communication Power Engineering Company (CPEC) group. CPEC is one of India's oldest listed companies and is listed on the Mumbai premier stock exchange.[16] Until the passing of its founder and chairman in 2010, CPEC specialised in the manufacturing of gears and general consultancy within the power and engineering sectors. Achom was appointed to the board in 2013. The company is now controlled by the Shamji family and Achom.

Currently, Achom also acts as an investment partner and advisor in various early stage digital technology companies including, app incubator Appitalist, creative social networking site Grandaad.com, social media and audience management platform justgo.com.[17][18] Outside of the technology sector he is also a major shareholder in high street fashion brand Hershey Pascual Fashion - stockists include House of Fraser, Lipsy, Next, Lipstick Boutique and Asos.

Renewable Energy and Solar Deployment Ventures[edit]

Achom’s Rosemont Group along with Mumbai stock exchange listed CPEC Ltd,[19] holds several subsidiary energy companies within their portfolio of companies but continue to specialise in building, owning, and operating utility-scale solar power plants in India and other emerging markets. Their subsidiary companies include Eurosolar Power Ltd. which was acquired in 2011, Artheon TeleVentures, an investment holding group with several companies and co-investments including Flexenclosure Telecom India Pvt. Ltd and Omnigrid Micropower Co. Pvt Ltd.

Achom through CPEC was amongst the founding investors in Omnigrid Micropower Co.[20] In 2013 the company received the World Economic Forum award as 2014 Technology Pioneer.[21] As a part of the Technology Pioneers program, OMC was invited to the World Economic Forum in Davos 2014, as well as to "Summer Davos" in Dalian, China in 2013. Previous Technology Pioneers include Google (2001), Wikimedia (2008) and Twitter (2010).[22]

Members clubs and restaurants[edit]

Achom’s first members club launched in 2005 in joint venture with Beirut-based Circle Management Group. Together they opened Crystal members club in the exclusive Fitzrovia area of London’s West End. The partnership expanded on an international scale and affiliate clubs were opened in St Tropez, Cannes, Lebanon and Dubai.

Achom co-owns Jalouse members club[23][24] in Mayfair's Hanover Square, along with Alex Nicholl and Moruf Yoozooph.[25] Achom was featured in Forbes having launched Jalouse in 2008 during the start of the global financial crisis.

The exclusive members’ only club, with its award winning Fendi interior designer, was the recipient of several awards, including the Best Club at the London Club and Bar Awards in 2009[26] and again in 2010.[27] Jalouse is frequented by the who’s who from the world of entertainment.[28][29][30]

In 2012 Achom along with business partner Alex Nicholl re-launched The Scotch at 13 Mason's Yard in Mayfair,[31][32] the site of the legendary club formerly known as The Scotch of St James.[23] Achom and Nicholl restored the Scotch to its former glory and with the help of an eclectic committee of key current influencers from the arts, the venue once again attracts celebrities as well as the cream of the crop from the arts and music industry. The Scotch has been featured in Vanity Fair,[33] New York Times [34] and Vogue [35] since it’s re-opening. Achom co-owns Bennett Oyster, Bar & Brasserie with Ray Duhaney, creator of Cheyne Walk Brasserie. In 2013 the restaurant was sold to celebrity chef and restaurateur Gordon Ramsay [36] and has re-launched as the London House.[37][38]

Personal life[edit]

Frederick Achom has a son and a daughter that live in Rome and Paris.[39] He is an avid skier and snowboarder.

Awards and honours[edit]

  • Awarded the honour by the London Evening Standard as one of ‘London's 1000 Most Influential People’ in 2010 for his efforts in business.[40]
  • Listed as one of the '100 Most Influential Black Business People in the UK’ in 2011. Achom was invited to Number 10 Downing Street along with fellow honourees, selected for his success and efforts in business. Compiled by JP Morgan, Powerful Media and presented by the then Prime Minister Gordon Brown, the list showcased 100 black men and women who have scaled the heights in the arts, law, politics, finance and business.
  • Achom, for a second time was listed in the UK's Power List 2012 for the success and efforts of his Rosemont Investment Group.
  • Awarded the honour for a second time by the London Evening Standard as one of ‘London's1000 Most Influential People’ in 2011.[41]
  • Once again listed in the UK's Power List 2013.[42] Achom was invited to Number 10 Downing Street for a second time. Lloyds Banking Group, Powerful Media and Thomson Reuters compiled the 2013 list which was presented by Prime Minister David Cameron.
  • For the fourth consecutive year, Achom was listed in the UK's Power List 2014. Compiled by Lloyds Banking Group, Powerful Media and Thomson Reuters. The award was presented by the Nigerian Petroleum Minister Diezani Alison-Madueke and former Ghanaian President John Kufuor.

References[edit]

  1. ^ Rosemont Group Leads $1.7 Million Seed Round Investment In Justgo.Com, SYS-CON Media, By Matthew Lobas, December 28, 2013
  2. ^ Rosemont Group
  3. ^ London's 1000 most influential people 2010: Night Owls, London Evening Standard, 15 November 2010
  4. ^ London's 1000 most influential people 2011: Night Owls, 07 November 2011
  5. ^ Freddie Achom, co-founder, Jalouse, Matchbox Magazine, December 2010
  6. ^ Dreams and Ambition, Canary Wharf, March 2010
  7. ^ Nigeria: Achom Cautions On Deductibles, Excess Clause - Rallys Support for Bailey, All Africa, By Kelvin Egerue, 28 September 2004
  8. ^ Achom Appointed Inland Bank Director, Highbeam Business, October 21, 2003
  9. ^ Profiles: Frederick Achom – Keeping London on Top, Euro Cheddar, Jan 24, 2011
  10. ^ Life at the Top - One to One with Freddie Achom, Chartwell Magazine, Summer 2011
  11. ^ Budd and the DTI strike the dodgy wine 'investment' merchants, Jancis Robinson, 21 Jan 2002
  12. ^ Liquid Assets, Concierge Magazine - February Edition 2012.
  13. ^ Profiles In Business: Frederick Achom, The Rosemont Group, All Business Info, February 23, 2013
  14. ^ Rosemont Group Leads $1.7 Million Seed Round Investment In Justgo.Com, Ulitzer, by Matthew Lobas, December 28, 2013
  15. ^ Meet the continental commuters - The Independent, June 17, 2011
  16. ^ CPEC Company Profile - The Economic Times
  17. ^ UK Social Venture JustGo Gets Investment to Open Office, Growth Business, Dec 13, 2013
  18. ^ JustGo Raises $1.7m in Funding, Music Week, by Tom Pakinkis, Dec 12, 2013
  19. ^ CPEC:IN, Bloomberg Markets
  20. ^ Omnigrid's Unique Solar Power Model, Forbes India, by Udit Misra, May 23, 2013
  21. ^ OMC Power selected World Economic Forum Technology Pioneer, by Debjoy Sengupta, The Economic Times, Aug 27, 2013
  22. ^ 36 Innovative Companies Recognized as World Economic Forum Technology Pioneers, World Economic Forum, News Release 27 August 2013
  23. ^ a b Supermodels and Shy Tycoons Launch the Scotch and Jalouse, City AM, January 23, 2012
  24. ^ Paris bring the house down, Daily Star Sunday, May 23, 2009
  25. ^ Nailing London's Night Scene - Forbes, May 12, 2009
  26. ^ There's no need to be Jalouse, The Sun, May 28th, 2009
  27. ^ Who was voted the best Club in London?, Fluid Style, by Paul Caffell, 10 Jun 2010
  28. ^ Cannes BEST party so far was hosted by swanky celeb fave London club Jalouse, Mirror, By Sarah Tetteh, May 20, 2009
  29. ^ AND the Palme d'Or for fab bash, Mirror, May 21, 2009
  30. ^ Leonardo DiCaprio sparks hysteria at nightclub, Metro, July 13, 2009
  31. ^ The Scotch: Where The Beautiful People Play In London - New Now Next, June 25, 2012
  32. ^ Bright Lights, Big City - Pomp Magazine, Sept 04, 2012
  33. ^ Where To Go, Vanity Fair, April 27, 2012
  34. ^ Hot Spot | The Scotch, NY Times, May 10, 20
  35. ^ London Fashion Week Bars, Vogue, Feb 13, 2012
  36. ^ Gordon Ramsay Acquires Bennett Brasserie and Oyster Bar Site in Battersea Square London, Caterer and Hotelkeeper, by Niel Gerrard, July 26, 2013
  37. ^ Gordon Ramsay's Battersea Restaurant London House Set for February 2014 Opening, Restaurant Magazine, by Emma Eversham, Dec 4, 2013
  38. ^ Battersea Powers Ahead as Posh and Stars Move On SW11, Evening Standard, by Maxine Frith, July 31, 2013
  39. ^ Country clubber: Impresario to swap £1.7m London flat for quiet life in Cotswolds - Mail Online 15 Nov 2010
  40. ^ London's 1000 most influential people 2010: Night Owls - London Evening Standard, 15 Nov 2010
  41. ^ London's 1000 most influential people 2011: Night Owls - London Evening Standard, 07 Nov 2011
  42. ^ Power List 2013 - Business, Finance & IT