Catapult backs Sight and Sound BIMBO

Sight and Sound Technology, a supplier of IT services for people who are blind or have learning difficulties, has completed a buy-in management buy-out (BIMBO).

The deal was backed by Midlands-based venture capitalist Catapult Venture Managers, which invested £1.45 million, with senior debt from The Co-operative Bank.

The acquisition team comprised Mervyn Robertson, the founder of the business, and incoming CEO Glenn Tookey, a former director at broadband provider Telewest.

The BIMBO will enable the company to launch its new product, a mobile phone with text-to-speech and screen magnification features. Says Tookey, ‘Our new product is potentially life changing for people with learning difficulties and visual impairments.’

Marie Wood, a business development manager at The Co-operative Bank, says the deal is a good fit with the bank’s ethical policies.

Wood adds, ‘We are in a strong position to provide funding for existing and new customers, unlike some other lenders who seem to be more reluctant to provide funding at this current time.’

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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