Finance Wales has backed the management buy-out of Cardiff-based events and exhibition business Denbe Western with a £140,000 investment.

Finance Wales has backed the management buy-out of Cardiff-based events and exhibition business Denbe Western with a £140,000 investment.

The buy-out will see operations director Ian Bancroft and Rebecca Coleshil acquire the company from former managing director Colin Watkins and creative director Alex Jenkins. Denbe Western, which has recently launched a service to build exhibition stands to clients’ specifications, plans to use the funding to expand into new markets, according to a statement from Finance Wales, the investment arm of the Welsh government.

Current clients include local authorities, retailers and universities, and the company has an annual turnover of around £1 million.

Bancroft comments: ‘We’ve recently expanded into new markets and Finance Wales’ investment will enable us to grow our market share even further.  It will also provide us with enough working capital to achieve our plans.’