An Oxfordshire-based distributor of vending machines has been bought by its management for an undisclosed sum.

An Oxfordshire-based distributor of vending machines has been bought by its management for an undisclosed sum.

The Vending Corporation was bought by managing director Alan Cooper and head of marketing Nick Bingham.

The deal was funded by the private equity arm of investment bank Beringea and The Royal Bank of Scotland.

Beringea’s reporting accountant was HMT, led by partner Andrew Thomson, who was supported by Catherine Lister.

“This is a great transaction for Beringea, The Vending Corporation is a well-established business with long-standing relationships with major operators in the vending market,” Thomson said. “The introduction of a chairman will strengthen the management team and support the planned expansion into Europe.”