Tue, 27 May 2014 | MBO/MBI
Vista Retail Support, the Welsh IT services provider, has undergone a second management buyout, it was announced this week.
The Cardiff-based company, which boasts a turnover of £14 million, was subject to an original MBO in 2008. Now the senior management team has bought out the remaining shareholders, including Finance Wales – the Welsh government’s investment arm who had supported the first buyout.
It represents the largest and most profitable deal to date for Finance Wales, Insider Media reported; it is estimated that the completion of the second MBO will see the organisation get a return of nearly five times on its original investment.
The existing senior management led by managing director Vince Haffenden and technical services director James Pepper have bought a majority shareholding. Westbridge Capital backed the MBO with support from Clydesdale Bank and Octopus Ventures while PwC’s West & Wales corporate finance team acted as lead corporate finance adviser.
Founded in 1995, Vista Retail Support employs more than 170 people across the UK, with clients including Superdrug, BHS and Lloyds Pharmacy. Under the new deal chairman Keith Brooks will remain as non-executive chairman.
Commenting on the second MBO, Marc Davies, corporate finance senior manager at PwC, said: "This secondary buyout represents a fantastic result for the exiting shareholders, and a great opportunity for management and the new investors. It has come about through the hard work and dedication of all those involved.
"Vista is a great company run by great people and this transaction demonstrates the appetite in the market for businesses of such quality."
______________________________________________________________________
Related information:
Business acquisition funding
Business valuation methods
CNC precision engineering company, established over 50 years ago. The Company specialises in small to medium batch high precision milling and turning and has the benefit of long lasting, valuable and important customer relationships. Based within the...
Flagship practice for any portfolio, benefitting from a combination setting (residential and commercial). The vendor is willing to stay on 4+ years.
This is a rare instruction for the sale of a lucrative four surgery private practice offered on a freehold basis.
FREEHOLD
10
|
May
|
North Yorkshire coaching inn on the market for £1.2m | COMMERCIAL PROPERTY
The General Tarleton Hotel and Restaurant, an 18th century c...
10
|
May
|
John Good Group acquires Grimsby shipping services company | BUSINESS SALE
John Good Group has acquired a shipping services provider th...
09
|
May
|
Landsec sells hotel portfolio for £400m | COMMERCIAL PROPERTY
Landsec has sold its entire hotel portfolio, comprising 21 a...
27
|
Jan
|
Paperchase set to be rescued in pre-pack acquisition | BUSINESS SALE
High-street stationer Paperchase is set to be acquired by Pe...
06
|
Jan
|
Paperchase close to administration amid “unbearable strain” of lockdown | ADMINISTRATION
Cards and stationary retailer Paperchase has filed notice of...
27
|
Oct
|
Dog treats company acquired by Spectrum Brands | BUSINESS SALE
Nottingham-based pet treat and toy maker Armitage Pet Care h...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.