Wed, 11 Sep 2013 | MBO/MBI
North Wales IT firm, Risc IT Solutions, has been the subject of a management buy-out (MBO) after staff bought the business from its French owners.
Director Jeremy Keaner, former HR and finance director Joanna Stewart and former chief executive and company founder Paul Roberts led the acquisition.
Mr Roberts spoke to Wales Online about the acquisition: “We are making a direct investment of around £750,000 expanding the business, securing the existing jobs, creating more jobs and adding to our exciting cloud services for businesses and public sector organisations of all sizes.”
He added that the MBO has created “an increased stability within our company and employees feel part of a winning team with vision”.
The MBO was completed with support from Finance Wales and HSBC. Finance Wales agreed to come on board due to a belief that the team had a strong plan to “strengthen the company's current offering and capitalise on a growth market”.
Risc plans to focus its growth plans on core areas of its business. These include data backup, cloud computing services and IT security.
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Related information:
Esendex purchased in an MBO
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