The deal was supported with debt from The Royal Bank of Scotland Corporate’s Structured Finance South team.

The company was bought by its existing management team led by chief executive Andrew Sheppard. Following the completion of the deal, Peter Ashton becomes Product Support’s chairman due to his experience of the logistics industry.

NVM has taken a majority but undisclosed shareholding in the company alongside the buy-out team.

The firm’s investment was managed by Peter Hodson, who said the firm decided to back the buy-out due to Product Support demonstrating a reliable revenue stream and it being in the process of developing long-term support contracts.

The legal issues of the deal were handled by Morgan Cole, Jones Day and Wragge & Co, with BDO Stoy Hayward providing financial services. Baker Tilly and Cardinal were appointed to manage the due diligence reviews.

Product Support provides warehousing and related services such as the packing and kitting of defence equipment such as helicopters and fixed-wing aircraft. Its clients include the Ministry of Defence, BAE Systems, AgustaWestland, Thales and Honeywell.