A team of lawyers from Actons have advised the new management team on their MBO (Management Buy Out) of a Nottingham technology business.
PLM Global is a Nottingham-based solutions provider specialising in the supply, repair and maintenance of hand-held data capture devices, mobile print and EPoS hardware.
The deal saw Shane Watson, one of the founding shareholders form a new management team and ownership model, become CEO and majority shareholder. Wayne Swallow, previously a non-exec director becomes Chairman alongside a new executive team.
PLM Global is one of the fastest-growing businesses in its sector, now boasting 21 employees, 200+ clients and annual turnover of £4.5million.
The deal was overseen by the Corporate team at Actons, led by Simon Dakin and Alastair Rose, with input from James Symons (Employment) and Caroline Pearson (Commercial Property). Corporate Finance advice was provided by Colin Peacock and Chris Matthews from HSKSG Corporate Finance, and funding was provided by SME Capital.
Shane Watson, CEO of PLM Global said: “I’ve genuinely completed my dream. Being able to take full control of one of the biggest passions I’ve ever had in PLM Global Limited. Most people that know me in the industry know that I’ve lived and breathed the company since inception and I fully intend to give it my all to continue to make it a brilliant place to work for the staff and continue doing what we do best – providing solutions to our amazing clients.”
Simon Dakin added: “We were delighted to help Shane with this deal. His passion and enthusiasm for PLM Global shines through. I look forward to seeing Shane and the team continue their successful journey and go from strength to strength.”
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Posted on August 25, 2022