Wilmslow-headquartered IT recruitment specialists, Venturi, have completed a management buyout.
Established in 2009 by Brad Lamb and investor, Keith Jones, the firm now employs 70 staff, and has opened offices in London, New York and Berlin. Venturi is forecasting revenues of £31 million during the current financial year.
The management buyout will see founder, Brad Lamb, and the company’s management team take over the shareholding of Keith Jones, and director James Doyle who intend to exit the business.
Founder, Brad Lamb said:
This is an exciting new chapter for Venturi 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.”
Venturi now have plans to continue growing the business, both in the UK and in its internationals operations.
Advising the management team on the MBO was Newcastle-based RG Corporate Finance, led by senior manager Alex Simpson, alongside partner and head of corporate finance Carl Swansbury. Tax advice was provided by RG’s business tax partner Simon Whiteside with support from senior manager Charlotte Burton.
SME credit specialist Caple supported the MBO with access to a five-year unsecured loan and Sonovate supported with further working capital.