Wed, 22 May 2013 | MBO/MBI
Stage Electrics, a supplier of stage lighting and audio equipment, has changed hands in a management buyout deal.
The new owners, a team headed by the current managing director Dan Aldridge and chairman Trevor Smallwood, bought the firm from David Whitehead - the previous managing director, who exited the role in May 2012 and supported the MBO.
Barclays Bank backed the deal, with Burges Salmon and Baker Tilly acting as advisers.
Set up in 1979, the business has over 225 staff and provides, installs and rents equipment and services to theatres, venues, other live events, TV shows and schools. Its services include building sets, providing communication systems and repairing equipment.
Based in Bristol, Stage Electrics also has operations in Exeter, Birmingham, Cambridge, London, Manchester, Tyneside, Plymouth and Edinburgh.
Mr Aldridge told Insider Media: “Stage Electrics is in a solid position; we have an order book that is in growth, an experienced team and a strong operation.
“With a business plan for growth and clearly identified market opportunities there is a strong future ahead of us. As we enter or next phase of growth I am determined to ensure that Stage Electrics retains the integrity and brand values that it is known for.”
Stage Electrics' past works include lighting for the London Eye at New Year’s Eve and technical support for the Royal Wedding celebrations. Additionally it has worked on TV programmes - The Cube, Most Haunted and Britain’s Next Top Model.
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