Livingstone Advises on the Secondary Management Buy-Out of AVM
A secondary management buy-out (MBO) of AVM, a UK provider of visual communications solutions, which operates at the forefront of the unified communications market, has been successfully completed. AVM was bought out by growth capital investor, Alcuin Capital with further funding provided by Indigo Capital. The buy-out was led by CEO Edward Cook, who sees Alcuin Capital entering as lead investor with further funding provided by Indigo Capital to support continued growth and potential further acquisitions.
In a press release, Adrian Lurie, partner at Alcuin, said, “We are delighted to be investing alongside Ed and his team to support the continuing success of AVM. We were pleased to work with the Livingstone team to successfully conclude this complex transaction.”
Specializing in visual communications systems in the UK, AVM offers a comprehensive range of video conferencing and audio visual services to the private and public sectors. AVM’s services comprise of supporting complex IP-based video networks, managing and maintaining telepresence suites, offering audio-conferencing, digital signage and equipping training rooms and presentation areas with state-of-the art technology.
Edward Cook, CEO of AVM, said, “This transaction gives us the added fire power to take AVM to the next level. I want to thank Livingstone for guiding us through the transaction and introducing Alcuin who we look forward to working with.”
With the MBO deal in place, the transaction provides an exit for AVM chairman, Sandy MacPherson and venture capital investor, Octopus Investments, which backed the MBO of AVM in 2006. The conclusion of the AVM MBO signifies Livingstone’s fourth tech deal in less than 12 months highlighting the sector’s continued attraction for trade and private equity alike.
Jane Vinson, a director of Octopus’ ventures team, added, “AVM has been a strong investment for Octopus, delivering year-on-year growth. Livingstone managed a well-run, multi-party process achieving a great result for us and the business going forward.”
A couple of months ago, the UK arm of leading PHP developer announced a management buy-out to drive business growth. Ibuildings UK announced to split from its Netherlands-based parent company in a management buy-out (MBO) that will leave the business free to focus on UK-based expansion and growth.
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Edited by Brooke Neuman