NVM supports Volumatic take-private MBO
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Following 30 years of public ownership Volumatic has secured the backing of a private equity investor.
NVM Private Equity has backed the management buy-out (MBO) of cash handling products business Volumatic.
The £6 million take-private transaction sees Halma end its involvement in Volumatic, a company that has clients including Tesco, WH Smith and McDonald’s.
Founded in 1972, Volumatic designs, manufactures and services products used by companies to count cash, detect forged notes and store cash securely. The company was originally acquired by Halma in 1982.
In 2008, Volumatic launched its CounterCache Intelligent product which now accounts for 45 per cent of its total revenue.
Colin Amos, managing director at Volumatic, says the buy-out will allow the company to take advantage of 'significant growth opportunities'.
'We want to develop our product range, increase penetration in existing markets and expand overseas,' he adds.
'Volumatic has several new product innovations and improvements currently under development - and we look forward to working with NVM to bring those to market.'
The deal represents NVM's second investment of 2012 following its £3 million investment in Lineup Systems.
James Arrowsmith, director at NVM Private Equity, comments, 'Volumatic is led by a talented and dedicated management team.
'The funding from NVM will ensure that they continue to be at the forefront of developments in the sector, as well as allowing them to broaden their footprint and capability.'