Optilan was bought by a management team led by Richard Buckland after securing the support of private equity firm NVM. The firm invested more than £5 million in the deal, with debt provided by AIB and GE Commercial Finance.
The chief executive was joined in the deal by fellow directors Chris Yarwood and Bal Kler, who have taken a controlling interest in the business post-completion.
Buckland said NVM will support Optilan’s growth. “This will include the expansion of our overseas activities as well as selective development in new markets where our technical skills will be valuable to customers.”
NVM’s investment was co-ordinated by James Arrowsmith, who said Buckland has been instrumental in developing Optilan and its continued growth. “He is ably supported by a great management team, and we believe they have a great platform to take advantage of growing markets and realise their expansion plans”
Optilan designs, installs and maintains telecoms systems for the oil and gas, transport, power and utilities industries. The company has some 200 employees, mainly engineering and technical staff, and satellite offices in Moscow and Qatar.