Founder buys out partners at 360 Audit
THE founder of a royalty auditing business with clients including campaigning celebrity chef Jamie Oliver, Liverpool FC and pop star Gary Barlow, has bought out her minority investors to take full ownership.
Henna Riaz, a media lawyer who previously worked for Hill Dickinson and DLA Piper, founded 360 Audit in 2010, and is now planning further growth overseas.
She has now taken 100% ownership of the Warrington and Bury-based company after buying out retired entrepreneur Tommy Schweiger and corporate finance firm Dow Schofield Watts, who jointly owned 45% of the business.
360 Audit ensure licensors and intellectual property owners are paid accurately under their commercial agreements. Other clients include entertainment firm Nickelodeo, CNN Turner and Michelin Tyres.
Following the deal, Henna has recruited her sister Philia as head of audit. She joins the business following senior auditing roles at PwC, Arup and Grant Thornton.
Henna Riaz said: “For clients, nothing will change. The same people will be giving the same excellent service levels. I will continue to lead the business and the aim now is to forge ahead with our ambitious growth plans, consolidating relationships outside of the UK and setting up an LA office later in the year. We’ve made huge strides internationally and currently around 60% of our audits take place overseas.
“We are carrying out an increasing amount of work in the USA, Brazil, mainland China, Thailand, India and Hong Kong and I’m excited to see what the future brings in these areas.
“My immediate plan is to grow our fantastic team of experienced auditors who understand the cultural nuances of these areas. It’s an exciting stage and taking on full ownership means I can drive 360 Audit forward and ensure the business reaches its full potential.”
