On with the show as Finance Wales investment finances MBO at Denbe Western

20th December 2010

Denbe Western is pressing ahead with its expansion plans following a management buy-out (MBO) backed by a £140,000 debt investment from Finance Wales.

Operations Director, Ian Bancroft and Rebecca Coleshill have acquired the Cardiff-based one-stop events and exhibition business.  Bancroft has been involved with the business since it was established in 2004 and will take over as Managing Director.  Coleshill will become Commercial Director.

Bancroft and Coleshill have acquired the business from former Managing Director, Colin Watkins and Creative Director, Alex Jenkins.

Denbe will also use the investment to grow its blue chip UK client base, having recently secured a number of new exhibition stand building contracts with R&G Racing, Lloyds TSB and Hobbs Valve.  Denbe Western’s loyal client base includes local authorities, retailers and universities.

The company has built a strong reputation for providing a one-stop events and exhibition service and has successfully expanded its services to include building competitively-priced bespoke exhibition stands.  This is proving attractive for many of its clients.

“We’re really excited by this MBO.  Denbe Western provides a unique one-stop service to its many loyal clients and we believe it has great potential to grow,” explained Bancroft.  “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.”

Commenting on the investment, Rhiannon Wilkinson, Investment Executive at Finance Wales, said: “Finance Wales is pleased to invest in this MBO. Denbe Western has a strong management team with extensive industry experience.  The company has some exciting future plans and is now well-placed to grow in the next few years.

“Denbe Western is well-established and an MBO was an excellent option when two of the company’s existing directors wanted to retire from the business.  Our investment means the company is now in a strong financial position to achieve its plans.”

Headquartered in Cardiff, Denbe Western has an annual turnover of around £1million.  The company was formed by the acquisitions of Denbe Display and Western Event Hire.