MBO at Coventry Telecoms Firm Optilan
The management of Coventry telecoms firm Optilan, led by CEO Richard Buckland, has been backed by more than £5 million of private equity investment in its buy-out of the telecommunications network provider.
.jpg)
The deal, backed by NVM Private Equity Limited (NVM) and structured by Iain Lownes of BTG McInnes Corporate finance in Birmingham, sees 100% of the equity in the business acquired from former owners for an undisclosed sum. Additional bank funding was provided by AIB and GE Commercial Finance.
Optilan was established in 1992 and employs over 200 staff from its head office in Coventry and two satellite offices in Russia and the Middle East. The firm specialises in the design, installation and maintenance of telecoms systems for the oil and gas, transport and power as well as the utilities sector.
Richard Buckland was one of the original founders of the business and as CEO has led its expansion into new markets: recruiting a strong expert management team around him in the process. He and fellow directors Chris Yarwood, Bal Kler and Tim Gray have all taken a stake in the business and will be joined on the board by James Arrowsmith of NVM.
Richard Buckland said: “To be able to lead the business forward with the backing and expertise of NVM opens up a new chapter in the history of Optilan.
“Our expert workforce, excellent product range and our reputation give us a fantastic platform from which to grow the business, and we now have the backing to ensure we can take full advantage of every opportunity in our existing and also new markets.”
Optilan provides its customers, including firms such as Coventry City Council, BP and projects such as the Channel Tunnel Rail Link, with everything from the initial system design through to installation, commissioning and maintenance of fibre optic cabling.
Iain Lownes of BTG McInnes commented: “All of Optilan’s key sales markets are experiencing high levels of investment that are largely resilient to slow downs in the world economy.
“The firm’s experienced management taking a stake, coupled with its reputation in a niche market gives the business excellent prospects for further growth.”
James Arrowsmith of NVM Private Equity added: “Richard Buckland has been instrumental in the development of Optilan and its continued growth. He is ably supported by a great management team and we believe they have a great platform to take advantage of growing markets and realise their expansion plans”
The majority of Optilan’s employees are engineering and technical staff based in Moscow, Qatar or the firm’s West Midlands head office.
