Monday 21st July 2008
Management buys telecom supplier
An Oxford-based telecom hardware specialist has been bought by its management for an undisclosed sum.
UNSL, a distributor of networking products and components, has been bought by managing director Darren Kiley.
The buy-out was backed with a package provided by asset-based lender Venture Finance, which comprised invoice discounting and a small firm’s loan guarantee.
The funding, which was arranged by Venture’s business development manager Phil Mcleod, will also help the new owners to grow the business by bolstering its sales force.
Mcleod said the funding will allow the company to grow in what is expected to be an interesting year economically.
The deal was project managed by accountant and corporate finance adviser Shaw Gibbs, which quickly identified Venture Finance as a potential supporter of the deal.
Shaw Gibbs head of corporate Peter O’Connell said Kiley’s team intend to move the business up a level. “Venture’s ability and tenacity to complete the deal in such a short space of time was imperative. Thanks to this commitment, the company has a firm funding base and is well placed to continue its upward trend.”
Kiley added that Venture Finance was the chosen funder due to its flexibility in providing the funding needed quickly. “This is when the bank could not help and was crucial in getting the deal completed. We can now start planning optimistically for the future.”
UNSL’s products include Cat5E, Cat6 and fibre optic systems from Molex, Data cabinets and enclosures from leading UK manufacturers, switches, network routers, UPS systems, environmental monitoring solutions and power distribution solutions.
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