Mon, 14 Dec 2015 | MBO/MBI
A communications agency based on the Welsh border town of Chepstow has been the subject of a management buyout.
On Screen Productions (OSP) and its life sciences and healthcare division OSP Healthcare, has been bought out by Vikki Byrne, Lydia Owen and Mike Dyson. The group began preparations for their purchase two years ago, having approached advisory firm KTS Owens in 2014, but the deal has been completed and they have taken up ownership away from the previous owners, Richard Cobourne and Alison King, who have recently announced retirement plans.
Mr Dyson commented on the acquisition: “We used our own finance as well as a loan from Finance Wales to fund the purchase.
"We now have the flexibility we need to expand the business by capitalising on OSP's proven business model."
Founded in 1993, OSP began life as a corporate video production company but has since grown into a full-service communications agency.
Alun Thomas, senior investment executive with Finance Wales, said that the planning undertaken by the new team meant that they were able to deliver on a “seamless transition”.
He added that the extra time they gave themselves also enabled them to explore potential funding options to access the best setup in terms of financing.
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