PEM Corporate Finance advises MBO at Independent Project Engineering


30-10-2019
PEMCF advises on management buyout at Independent Project Engineering

A company that provides technology and systems integration services to leading broadcast media organisations has completed a management buyout. Colin Judge, a co-founder, of Melbourn-based Independent Project Engineering Ltd (IPE) and his co-director Ray Bragg have transferred ownership to a new management team who will take IPE forward to its next stage of growth and innovation.

IPE designs and supplies integrated broadcast systems for radio and television applications which are typically installed in newsrooms, master controls rooms, and broadcast production facilities. For more than 30 years, IPE has worked with many of the world’s largest broadcasters and new media companies and has been at the forefront of the move to IP broadcast technology.

IPE always has an eye on the future and had put in place succession planning and training for this transition. The management team of Simon Warburton and Gareth Meehan, who have a combined 40 years of experience working alongside Colin and Ray, have assumed control of the business as Colin and Ray fully exit their equity shareholding.

Gareth Meehan said: “We are delighted to have been invited to take over the reins and ensure a seamless continuation of business for our customers”.

Simon Warburton said: “This has been a very smooth process and we are grateful to the team at PEMCF, Greene & Greene, and Andrew Kidger at Barclays for their support.”

PEM Corporate Finance were appointed by the previous shareholders to oversee the MBO process. Philip Olagunju, Director said: “This has been a fantastic deal for Lake Falconer and I to advise on. The project really started when we delivered an exit planning review to Ray and Colin back in early 2018. Since then we have been on-hand to help at every step, culminating in the sale of the business to a strong management team led by Simon and Gareth. It has been a great journey for all involved and the business is well-placed to continue delivering a fantastic service to its clients.”

Former Managing Director Ray Bragg said: “This process of handover has been greatly assisted by the expertise of the PEMCF staff and our very supportive legal team.”

Legal advice for this MBO was provided by Mark Williams at Greene & Greene Solicitors.

 

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