Oxford-based bChannels, which provides technology companies with services to help access different routes to market, has teamed up with RCapital to lead a buy-out.
The deal is structured as a two-stage process with RCapital first buying the bank debt of bChannels from Lloyds TSB Bank, and then helping the management team buy back the shares using the private equity firm’s growth fund.
The management buy-out has been led by Matt Rowland-Jones, Phil Gowing and Chris Bard, who acquired it from parent company Adventis Group.
Jamie Constable, founder of RCapital, comments, ‘bChannels has built a solid reputation for building and maintaining effective channel programmes for major technology companies that directly impact the bottom line.
‘The world’s leading technology behemoths rely heavily on effective and strong performing channel partners to drive out those critical sales and growth opportunities from every corner of the world.’
bChannels director Rowland-Jones says that following the deal, and its parting from parent company Adventis Group, the business now has the freedom to shape the direction of its future which it had previously been ‘difficult’ to do.
Other 2012 deals for RCapital have come in the form of its growth capital investment in government consultancy firm Matrix Knowledge.