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
This opportunity allows a buyer to acquire a well-established tool retail business with a strong track record and loyal customer base, located in the East of England. With a comprehensive product range and potential for growth through online sales an...
FREEHOLD
This family-run artisan bakery and coffee shop, established over 30 years ago, is nestled in an affluent North East suburb and is celebrated for its freshly baked goods and exceptional service.
LEASEHOLD
This fully fitted cafe presents a unique opportunity in the sought-after location of Covent Garden, featuring both a ground-floor area and a basement bar with a combined total of 50 covers.
LEASEHOLD
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.