Accountancy firm Kreston Reeves Plc has completed a management buyout (MBO) of Review Display Systems, the parties have announced.
Review Display Systems is a provider of industrial flat panel display solutions – and the deal for the Westerham-based business has been backed by RBS/Natwest.
Kreston Reeves is an accountancy and financial services company that has offices in both Kent and London and was named as a finalist in the recent M&A Awards in London.
The management team of Graham Smith and Russell Gilbert agreed to buy the business from its founder, Ralph Smith, for an undisclosed sum and will continue to run the business from its current location.
Gilbert said that it is “very much business as usual” at the company.
“But we have been considering enhancing our in-house design and manufacturing capability and expanding into some new geographic areas for the last year or two,” he continued.
“With the backing of RBS/NatWest, we now have the opportunity to do so. The future looks very exciting.”
Kreston Reeves corporate finance partner John Cowie also expressed his pleasure with the arrangement.
“We’re delighted to have been able to create a structure which sees Graham and Russell take control of Review Display Systems at a critical phase in its development,” he said.
“There are two or three new initiatives which could transform this business. Watch this space.”
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