Frederick Achom

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Frederick Achom
Born (1974-01-22) January 22, 1974 (age 42)
Lagos, Nigeria
Residence London, United Kingdom
Nationality British and Nigerian
Occupation CEO & Founder of Rosemont Group Capital Partners
Years active 2002 – Present
Children One son and one daughter
Website www.rosemontgroup.net

Frederick "Freddie" Achom (born 22 January 1974) is a Nigerian-born British businessman based between Paris, New York and London.[1] He is the co-founder and chairman of the Rosemont Group, a private investment group with a portfolio of companies with interests in solar energy deployment, biotechnology, web based technology platforms, and property development.[2][3][4][5] He is also the founder and co-owner of several exclusive members-only clubs in London, including Jalouse,[6][7][8][9] Crystal and The Scotch.

Achom was featured as one of the 1000 most influential Londoners in the Evening Standard, in 2010[10] and again in 2011.[11] In 2013, Achom was listed as one of the top 100 most important business people of African or Caribbean heritage in the UK Powerlist.[12] Since 1982 Achom has lived in London, England. He is also the founder of Rosemont Group Foundation.[13]

Personal life

The youngest boy of a family of 3 boys and 1 girl, he spent his early years living in Lagos. His father is a businessman and a shareholder of Inland Bank of Nigeria.[14][15]

Business career

Early career

Achom began his career at a variety of different private sector businesses including a financial services company, a property surveying firm and a sales & marketing company. He would eventually establish his own business development and strategic funding agency aimed at SME's, along with several partners, called City Business Partners Limited. City Business Partners Limited ceased trading as Limited company in August 1998, while Achom and some of the original partners formed a partnership entity with an identical name. City Business Partners was sold a few years later to the EGC Group for a figure said to be in the region of 9 million pounds.[16]

Legal issues

In 1999 Achom, his business partner Anthony Grant and several others were committed for trial in Magistrates Court, charged with conspiracy to defraud various businesses by promising that they could help the businesses get EU grants for a fee.[17][18] Being convicted of fraud in Southwark Crown Court in July 2000, Achom & his fellow defendants were sentenced to a year's prison term.[19][20][21][22][18] Achom and Grant were both disqualified from holding UK directorships for eleven years.[23][21]

Achom's first venture in the investment sector was in 2001 when he co-founded Boington & Frederick's with Grant. It was one of the first alternative investment advisories focused on fine wine as an alternative asset to traditional investments such as equities and bonds.[24] Boington & Fredericks was wound up in the public interest on 16th January 2002. In May 2002 the Official Receivers summary showed an estimated total deficiency of £228,747. No wine was allocated to clients after October 2001. [25][26][22]

Members clubs and investment firms

In 2005 Achom acquired controlling interest in the Bordeaux Wine Company,[27] the company was restructured and for the past decade has traded as a partnership offering services specifically to high net-worth individuals and institutions.[28]

In 2005, Achom co-founded Crystal members-only club,[24] The club was launched in the Fitzrovia area of London's West End[29] and later expanded on an international scale. Affiliate clubs under the same name were opened in St Tropez, Cannes, Lebanon and Dubai.[30]

Achom co-owns Jalouse members club[31][32] in Mayfair's Hanover Square, along with Alex Nicholl[33][34] and Moruf Yoozooph.[35] having launched Jalouse in 2008 during the start of the global financial crisis. The 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[36] and again in 2010.[37]

In 2012 Achom along with business partner Alex Nicholl[38][39] re-launched The Scotch at 13 Mason's Yard in Mayfair,[40][41] the site of the club formerly known as The Scotch of St James.[31] The Scotch has been featured in Vanity Fair,[42] New York Times [43] and Vogue [44] since its reopening.

Achom was an investor in The Bennett Oyster Bar, Brasserie & Wine Store with Ray Duhaney creator of Cheyne Walk Brasserie.[45] In 2013 Bennett Oyster, Bar & Brasserie was closed for insolvency.[46]

Rosemont Group Capital Partners

In 2002 Frederick Achom founded Rosemont Group Capital Partners (Rosemont Group),[47] an offshore based investment group. Rosemont Group's primary focus is joint venture investments and equity funding for technology start ups and growth stage development, green energy services, financial services and hospitality.

In 2012, Achom re-aligned Rosemont Group's core investment focus to opportunities in early and growth stage technology. He is a shareholder in the Mumbai stock exchange listed renewable energy services company Communication Power Engineering Company (CPEC).[48][49][50] Founded in 1942,CPEC specialised in the manufacturing of gear boxes within the power and engineering sectors until the passing of its founder in 2010. The company now focuses on solar energy deployment in India and Africa.[51] Currently, Achom also acts as an investment partner in various early stage digital technology companies including the UK's leading parking application AppyParking.[3][52][12] and Vivid Technologies, a Pakistan based customer service company. He was featured in the May 2015 edition of Forbes Africa having raised a £9.2m fund for technology investments in Africa.[53]

References

  1. ^ "Meet the continental commuters – House & Home – Property". The Independent. 2011-06-17. Retrieved 2015-09-18. 
  2. ^ "AppyParking, the UK's Number 1 Parking App Receives Investment from Rosemont Group Capital Partners – Global Investing Today – EIN News". Investing.einnews.com. 2015-01-31. Retrieved 2015-09-18. (account required)
  3. ^ a b "Freddie Achom Invests in APPYPARKING – Jewish Business News". Jewishbusinessnews.com. 2015-01-27. Retrieved 2015-09-18. 
  4. ^ "Rosemont Group Capital Partners to Back 20 Startups by 2017". FinSMEs. 2015-05-06. Retrieved 2015-09-18. 
  5. ^ "ROSEMONT GROUP LEADS $1.7 MILLION SEED ROUND INVESTMENT IN JUSTGO.COM | news.sys-con.com". Sys-con.com. Retrieved 2015-09-18. 
  6. ^ "Freddie Achom". content.yudu.com. Retrieved 6 April 2016. 
  7. ^ "A day in the life of Freddie Achom". content.yudu.com. Retrieved 6 April 2016. 
  8. ^ "Freddie Achom". content.yudu.com. Retrieved 9 May 2016. 
  9. ^ "A Day in the Life of Freddie Achom". content.yudu.com. Retrieved 9 May 2016. 
  10. ^ London's 1000 most influential people 2010: Night Owls, London Evening Standard, 15 November 2010
  11. ^ London's 1000 most influential people 2011: Night Owls, 7 November 2011
  12. ^ a b "Power List 2013". Content.yudu.com. Retrieved 2015-09-18. 
  13. ^ "BN Making It!: Serial Entrepreneur Freddie Achom Talks About Dropping Medicine for Life as a Business Investor". Retrieved 2016-07-21. 
  14. ^ Ibe, Paul (November 29, 2005). "Nigeria". Thisday Newspapers. Retrieved July 21, 2016 – via AllAfrica. (subscription required (help)). 
  15. ^ "Achom Appointed Inland Bank Director.publisher=Africa News Service". October 21, 2003. Retrieved 2016-07-21 – via HighBeam. (subscription required (help)). 
  16. ^ "How did Freddie Achom make his first million in his 20's?". mixergy.com. Retrieved 2 April 2016. 
  17. ^ Heathering, Tony. "Wish you weren't here". thisismoney. 
  18. ^ a b Budd, Jim. "How not to be robbed by the wine spivs". spectator. Frederick Achom and Anthony Grant set up Boington & Fredericks Ltd while awaiting trial for fraud. Convicted in September 2000, they spent seven months in jail and then activated the company in March 2001. It was closed in the public interest by the DTI in November 2001. In our topsy-turvy system it is down to the DTI to prove that these companies are unfit. 
  19. ^ Budd, Jim (3 March 2001). "Past fraud convictions: Frederick Achom and Anthony Grant (Boington & Fredericks)". Investdrinks.org. Retrieved 19 July 2016. 
  20. ^ "Bordeaux Wine Company: Anthony Grant and Frederick Achom". investdrinks. 
  21. ^ a b Jefford, Andrew. "Wine scam costs investors £110m". standard. 
  22. ^ a b Doward, Jamie (18 October 2008). "Wine frauds leave buyers in the red". theguardian.com. Guardian Media Group. Retrieved August 26, 2016. 
  23. ^ Budd, Jim. "Bordeaux Wine Trading fraudster convicted". decanter. 
  24. ^ a b "Investment Entrepreneur Freddie Achom On The Fine Wine Investment Market". Concierge Magazine. Retrieved 2 April 2016. 
  25. ^ "Bordeaux Wine Company: Anthony Grant and Frederick Achom". investdrinks. 
  26. ^ Jefford, Andrew. "Wine scam costs investors £110m". standard. 
  27. ^ "Bordeaux Wine Company Limited". DueDil. Retrieved 2 April 2016. 
  28. ^ "Your Next Wine Investments With Frederick Achom". Sooperarticles.com. Retrieved 2 April 2016. 
  29. ^ "A tale of two cities in London?". BBC News. Retrieved 6 April 2016. 
  30. ^ "Queens of Clubs". Hedge Magazine. Retrieved 6 April 2016. 
  31. ^ a b Supermodels and Shy Tycoons Launch the Scotch and Jalouse, City AM, 23 January 2012
  32. ^ Paris bring the house down, Daily Star Sunday, 23 May 2009
  33. ^ "London Fashion Week Bars". Vogue (British magazine). Retrieved 6 April 2016. 
  34. ^ "What It's Really Like To Mastermind A London Fashion Week Party". Grazia Daily. Retrieved 6 April 2016. 
  35. ^ Nailing London's Night Scene – Forbes, 12 May 2009
  36. ^ There's no need to be Jalouse, The Sun, 28 May 2009
  37. ^ Who was voted the best Club in London?, Fluid Style, by Paul Caffell, 10 Jun 2010
  38. ^ "London Fashion Week Bars", vogue.co.uk, February 13, 2012.
  39. ^ Lizzy Dening, "What It's Really Like To Mastermind A London Fashion Week Party", vogue.co.uk, February 19, 2015.
  40. ^ The Scotch: Where The Beautiful People Play In London – New Now Next, 25 June 2012
  41. ^ Bright Lights, Big City – Pomp Magazine, Sept 04, 2012
  42. ^ "Where to go | The A-List". Alist.vanityfair.co.uk. Retrieved 2015-09-18. 
  43. ^ Hot Spot | The Scotch, NY Times, 10, 20 May
  44. ^ London Fashion Week Bars, Vogue, 13 Feb 2012
  45. ^ "The Bennett Oyster Bar to launch in Battersea next year". Eat Out Magazine. 2011-02-04. Retrieved 2015-09-18. 
  46. ^ "Meetings of Creditors". www.thegazette.co.uk. Retrieved 6 April 2016. 
  47. ^ "BN Making It!: Serial Entrepreneur Freddie Achom Talks About Dropping Medicine for Life as a Business Investor". Retrieved 2016-07-21. 
  48. ^ CPEC Public Shares. Moneycontrol. Retrieved 14 August 2016
  49. ^ Shareholding pattern for CPEC. Value Research Online. Retrieved 14 August 2016
  50. ^ CPEC Directors Report. Infoline. Retrieved 14 August 2016
  51. ^ "Company Overview of Rosemont Group Capital Partners LLC". Bloomberg. Retrieved 10 January 2016. 
  52. ^ "'World's first' one tap parking app tried out in capital | London – ITV News". Itv.com. 2015-08-17. Retrieved 2015-09-18. 
  53. ^ Freddie Achom on Forbes Africa, July 2015. Retrieved from documents.mx on 14 August 2016