International specialist technology staffing company Venturi is targeting further growth and scale-up of its operations following the completion of a management buyout.
The Wilmslow-based business, which also has a New York office and a presence in Germany, places technology talent into key areas of the IT and technology sectors, including business intelligence & data, analysis & security and software development.
The company was founded in 2009 by Brad Lamb with investment from respected staffing industry entrepreneur and investor Keith Jones.
Joining the founding shareholders within six months of the launch was director James Doyle.
The directors and the management team have established the company as one of the fastest growing technology staffing businesses in the 海角视频.
As a result of the management buyout, Brad and the existing management team have acquired the two other directors’ shareholding enabling James and Keith to exit the business and pursue their other interests.
Having established a presence in the German market in 2015 and setting up its office in the US in 2017, the company has built a workforce of around 70 people and is forecast to deliver revenues in its 2020 financial year of£31m with an adjusted EBITDA of £2.2m.
Most Read
Following the management buyout, Brad and the management team aim to further scale Venturi operations in the 海角视频 and internationally, particularly focusing on building its support for technology clients served by its New York office and dedicated team assisting clients in Germany.
SME credit specialist Caple supported the management buyout with access to a five-year unsecured loan. Sonovate, Venturi’s existing financial provider, provided support with additional working capital.
Brad 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.”
Advising Brad and the management team on the MBO was Newcastle-based RG Corporate Finance (RGCF).
Legal advice to the vendor was provided by Ward Hadaway.
James Doyle’s legal advisor was Cooley, while Keith Jones was advised by Slater Heelis.