Private equity funds asset business MBO
Oldbury based OCS Asset Solutions has undergone an MBO which sees its six strong management team acquire the business from international facilities management company OCS Group in a private equity deal financed by LDC.
The buyout was led by the CEO, Lois Heywood, and will see the appointment of Greg Ball as the non-executive chairman; two directors of LDC, Rob Schofield and Victoria Mercer will also join the new board.
The deal is supported by a £13m investment by LDC and a co-investment by the new management team for a significant stake in the new business which will now trade as Retail & Asset Solutions and Vehicle & Asset Solutions in the UK, and Retail & Asset Vehicle Solutions in Ireland.
The company provides supply chain management, stocktaking and merchandising services to the grocery and general retail trade as well as vehicle and asset auditing services to the finance and banking sector. With sales of £35m in 2017 and a 15% increase in growth planned for this year, the business has an impressive list of clients which includes Tesco, Sainsbury’s and Jack Wills.
The MBO will allow the business to make further investment in the development of its technologically enabled services, which will help to solidify the company’s position in the UK and make an entrance into several overseas markets where it already believes there is room for significant growth.
Heywood said: “This is an exciting development for the business, our customers, our people and our partners. OCS Group has been a supportive parent company which has helped us to develop a strong proposition and position in the market. Bringing on board an experienced investor like LDC means that we can now accelerate investment in our services and further unlock the potential we see across our business and the markets in which we operate, both in the UK and overseas.”
