UK-based mixer manufacturer, Allen & Heath, has signed a secondary management buyout (MBO) with Close Brothers Growth Capital (BGC). The move marks both the successful exit of 3i (backers of the original Allen & Heath management buyout in 2001), as well as an increase in the management's stake in the company, giving them majority control.
The MBO team is led by Allen & Heath’s managing director, Glenn Rogers, who has fronted the company since the early 1990s, along with board members Dave Jones, finance director; Bob Goleniowski, sales director; and Tony Williams, operations director. Peter Adams continues as non-executive chairman. James Blake, who led the transaction for CBGC, will also join the board.
For more information, visit www.allen-heath.com/UK/news_story.asp?view=300.