NVM Private Equity backs the management buy-out of Presteigne Broadcast Hire. .
27 October 2016
Presteigne Broadcast Hire is one of the market leaders in the broadcast equipment hire sector in the UK. The business hires a selection of specialist equipment predominantly to outside broadcast companies with a particular focus on the live sport and event sector. Founded by industry veteran Mike Ransome, Presteigne has always been seen as a market innovator as they invest in the latest products and emerging technologies ensuring they can deliver the highest level of service to their clients. Headquartered in Crawley and with additional facilities in Warrington, each being equipped with the latest in technology and the best in engineering skills, Presteigne has supported many global sporting events. More recently these have included the supply of equipment and services in connection with the Rio 2016 Olympics and this season’s Formula 1 Grand Prix schedule.
Presteigne’s primary focus over recent years has been live sport: a sector which has enjoyed considerable growth in the last decade with consumers increasingly seeking access to live events, either at the venue or remotely. The timing of the transaction perfectly positions the company for accelerated growth as the market embraces rapid advances in radio frequency, IPTV and 4K technology.
Mike Ransome, Presteigne CEO comments: “I’m really excited to be working with a supportive partner in NVM who share my vision. This buy-out enables us to take advantage of the significant growth opportunities presenting themselves in today’s changing broadcast market.”
David Rolfe, Partner of NVM comments: “Presteigne has a strong platform for growth and NVM are delighted to be able to support Mike and his team with the necessary resources to expand the business as an independent company. Presteigne has a strong client base, quality leadership, and operates across different geographies, sectors and specialist areas of the broadcasting industry.”
As part of the transaction NVM have introduced Martin Anderson, a broadcast sector heavyweight, who joins as Chairman. Anderson is a highly respected industry executive with decades of experience in board-level management roles, both as an executive and non-executive director. This has included 15 years as Managing Director of Visions and a number of years as a director of publicly traded The Television Corporation (TTC). Anderson initiated and managed TTC’s sale of Visions to NEP in 2005 and moved with the business. Martin subsequently managed all of NEP’s business interests in the UK until 2010 and subsequently has become a senior consultant to a number of different companies.
Peter Hodson, Partner of NVM added: “In introducing Martin Anderson we believe this has enhanced an already strong incumbent team and we are looking forward to this next exciting chapter.”
Principals and key advisors to the transaction
NVM were provided with:
- Corporate Finance Advisory – Jeremy Rayment of Brebners Corporate Finance
- Legal advice by Jeff Chang, Mike Freer, Hugh Jones and Rebecca Scott of Osborne Clarke
- Financial due diligence by Andy Harris, Steve Holmes and Max Whitehead of BDO
- Commercial due diligence by Geoff Rampton and Roger Penney of RPL Advisory
- Management due diligence by Steve Wycherley of Continuum
- Technology due diligence by Tim Chapman of Hickman Shearer
- Insurance due diligence by John Donald and Gordon Shaw of Aon
NOTES TO EDITORS
For further information please contact:
- Natalie Dickinson (NVM: PR & Marketing) – 0118 951 7021 firstname.lastname@example.org
- David Rolfe (NVM: Investment Partner) – 0118 951 7013 email@example.com
- Mike Ransome (Presteigne: CEO) – 0129 365 1300 firstname.lastname@example.org
Download photos of: Presteigne and general image – www.nvm.co.uk/PRphotos
NVM Private Equity is independently owned with over 30 years’ experience of investing in unquoted UK businesses. NVM is a generalist investor, managing over £250 million of funds, and is differentiated by having executives living and working in regional business communities throughout the UK. NVM seeks investment opportunities of between £2 million and £12 million in UK businesses which have the right mix of growth potential and market vision. They may be looking to grow organically, acquire another business or secure a management buy-out. www.nvm.co.uk
Presteigne Broadcast Hire is a leading dry hire and complete multi-location production solution provider. Established in 1992, with offices in the UK and operating globally, Presteigne Broadcast Hire has the expertise to offer worldwide solutions to meet a wide range of production needs. Their rental department is one of the most comprehensive in the industry, with access to over 10,000 items of equipment, while specialising in project solutions where they bring their extensive RF, Audio, Video, EVS, HD and 4K divisions together to offer customers a unique and seamless broadcasting experience. For more information, please see: http://presteigne.tv/