Tue, 24 Jul 2012 | MBO/MBI
Science-powered technology and consulting service provider Tessella has changed hands in an £18 million management buy-out.
Founder Kevin Gell is to keep a minority stake and is to remain on the board. London-based Mobeus Equity Partners backed the deal. New board members are Jon Tilbury, Stephanie Elliot and Grant Stephen with new chairman Steve Curl, and Guy Blackburn from Mobeus.
The deal was led by Alan Gaby, the managing director at Tessella, who commented, “Having been in the business for the last 5 years, my team and I are excited by our plans for the future. We have the experience, energy, resources and – above all – the people to make an even greater positive impact for our clients.”
Headquartered in Oxfordshire, Tessella operates in Warrington, Burton, as well as the Netherlands and the US. It acts as adviser on various projects for its blue-chip clients, including the UK government’s flood water and defence plans, the European Space Agency’s plans to create a satellite to send to the sun and work to boost safety on oil rigs for large international oil firms.
Established in 1980, Tessella recorded revenues of £16.9 million for the year to April 2011 and has a 200-strong workforce across the UK, Netherlands and US.
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