Penningtons Manches LLP has advised dB Broadcast, a Cambridge Cluster technology business and one of the UK’s largest independent systems integrators and product manufacturers for the broadcast sector, during its management buyout which was finalised earlier this Summer.
Under the new company structure, 11 existing members of staff have become shareholders, acquiring a 75% stake in the business. The founder, David Bird, who has developed the company over the past 25 years, will continue as managing director and retain a 25% share. dB Broadcast was recently named as one of the Sunday Times top 100 fastest growing technology companies in the UK.
The Penningtons Manches team, led by Cambridge based corporate partner Helen Drayton, was responsible for preparing all the legal documentation required during the MBO process. Helen was assisted in her role by James Went, Laura Lindsay and Jessica Evans.
Following the completion of the MBO, Helen commented: “The new management-led ownership structure will contribute significantly to the ongoing stability of dB Broadcast’s business through the commitment of its employees. We are delighted to have supported this experienced and highly successful team during such a strategically important move which will allow dB Broadcast to maintain its reputation for high-calibre service and strong client care.”