AVA sold in multi-million pound deal

TWO BUSINESSMEN who founded an electronic security company but then launched another business because they believed it had a chance to become a success have sold it in a multi-million pound deal.

Alan Tallentire and Michael Taplin founded Added Value Administration (AVA) after becoming founder members of the Association of Town Centre Management through their first company, Wetherby-based Lander Alarms.

Membership of the association led the pair to have the idea to launch AVA which provides outsourced business processes and services such as research, administration, events management, business development, lobbying and retail property management, to a range of private, public, government and voluntary organisations and those with national networks.

AVA, which has 20 staff and is based in Bedale, North Yorkshire, and Westminster in London, has been bought by Essentia Group, of Glasgow.

Essentia Group, founded in the 1980s, provides similar services, largely to the pharmaceutical, clinical research, voluntary and public sector, and has 450 associates at three offices in Bora, Glasgow and Newcastle.

AVA, which was advised on the deal by York-based commercial law firm Denison Till, has annual turnover of £1.5m.

Mr Tallentire, 64, said he and Mr Taplin would stay with the business through its transition into the Essentia Group and would help with its future development.

Mr Tallentire said: “When we started out we did not know where the business would take us but we followed our instincts and now AVA is thriving. We have many well-known clients and lots of experience which made us attractive to Essentia Group.

“The sharing of support functions will strengthen both businesses as we go forward. We've had first rate professional advice and are delighted with the outcome.”

Denison Till corporate department partner, Alistair Duncan, who led the deal with support from solicitor Mike Ward, said: “We are currently being told of tougher economic times ahead but Michael and Allen's story demonstrates that a sound commercial instinct and an ability to take chances can reap rich rewards.

“This is another example of a Yorkshire entrepreneurial business becoming attractive to a national buyer and we wish them well.”