Venturi founder completes MBO
Venturi Ltd has completed a vendor-initiated management buyout.
The business was founded in 2009 by Brad Lamb, with investment from Keith Jones. Director, James Doyle, joined six months later. Following the MBO, Lamb and his management team have gained two other directors’ shareholding. This enables Doyle and Jones to exit the business. After the MBO, Lamb and his team are looking to expand both in the UK and internationally.
Venturi’s existing financial provider, Sonovate, supported the deal with additional working capital while access to a five-year unsecured loan was provided by Caple to support the MBO.
Lamb and the team were advised by RG Corporate Finance, led by senior manager, Alex Simpson, with partner and lead of corporate finance, Carl Swansbury. RG’s business tax partner provided tax advice with support from senior manager, Charlotte Burton. Melanie Yeomans from Ward Hadaway provided legal advice to the vendor.
Doyle’s legal advisor was Kemilia-Jean Ogunmuyiwa of Cooley LLP. Keith Jones was advised by Simon Wallwork of Slater Heelis LLP.
Lamb said, “This is an exciting new chapter for Venturi Ltd that will build upon the excellent international reputation we have established in the IT and Technology sectors. James’ role in the most recent stages of growth of the business, including the opening of our New York office, together with the investment and support we have received from Keith have been invaluable and provide us with a solid platform to scale the business even further.
“Working with Caple and Sonovate the management team is looking forward to expanding Venturi’s market share in our key markets and play a key role in the evolving international technology industry.”
Alex Simpson, senior manager at RGCF, commented, “With its highly-experienced and dynamic management team, Venturi Ltd is an exemplar of the agile and forward-thinking UK staffing businesses that have grown their presence across international markets. We are proud to have worked with Brad and his team and wish them well in their continued endeavours to scale Venturi Ltd’s operation in the IT and Technology sectors.”
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