MBO at broadcast equipment hire company
PRESTEIGNE Broadcast Hire – one of the market leaders in the hire of broadcast equipment in the UK and with facilities in Warrington – has undergone a management buyout.
The deal for an undisclosed sum was backed by NVM Private Equity, based in Newcastle.
The business hires a selection of specialist equipment predominantly to outside broadcast companies with a particular focus on the live sport and event sector.
Founded by industry veteran and CEO Mike Ransome, Presteigne has always been seen as a market innovator as it invests in the latest products and emerging technologies.
Headquartered in Crawley, West Sussex, and with an additional presence in Warrington, each being equipped with the latest in technology and the best in engineering skills, Presteigne has supported many global sporting events.
More recently these have included the supply of equipment and services in connection with the Rio 2016 Olympics and this season’s Formula 1 Grand Prix schedule.
Ransom said: “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.
“It’s a really interesting time for the industry and I’m especially excited to being working with a supportive partner in NVM, who share my vision to invest in growth and be known as a market leader.”
David Rolfe, partner of NVM said: “Presteigne has a strong platform for growth and NVM are 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.”
Legal advice by Jeff Chang, Mike Freer, Hugh Jones and Rebecca Scott of Osborne Clarke, while Andy Harris, Steve Holmes and Max Whitehead of BDO carried out financial due diligence. Management due diligence was provided by Steve Wycherley of Continuum.
Technology due diligence was by Tim Chapman of Hickman Shearer and Insurance due diligence by John Donald and Gordon Shaw of Aon.
