Presteigne completes management buyout30 September 2016
Presteigne Broadcast Hire has completed a management buyout (MBO) from Avesco Group.
Led by CEO Mike Ransome (pictured), Presteigne claim the £5 million deal will ‘perfectly position’ the company for accelerated growth as it ‘embraces rapid advances’ in RF, IP and 4K.
Ransome said, “Broadcast, or what used to be called broadcast, is changing – and moving – fast. This buyout returns to us total control over how we plan for, invest in, and – most importantly – respond to our rapidly growing clientele, and their rapidly evolving requirements, worldwide.”
He explained that now is the “right time” for Presteigne, which has been part of Avesco since 1991, to “take full control of it’s own destiny, which will in turn enable our customers to respond to and exploit enormous revenue-generating opportunities worldwide.”
The MBO is supported by NVM Private Equity LLP.
David Rolfe, investment partner of NVM Private Equity, said. “Presteigne has a strong platform for growth and NVM is delighted to be able to support Mike and his team with the necessary resources to expand the business as an independent company.
“Presteigne has a strong client base, quality leadership, and operates across different geographies, sectors and specialist areas of the broadcasting industry.
“We are looking forward to working with the team on this next exciting chapter and warmly welcome Presteigne to our portfolio of dynamic brands.”