Pierce Corporate Finance has advised the Shareholders of Blackburn-based Vision Techniques (UK) Limited on the Management Buyout (MBO) of the company. Vision Techniques is a long-standing client of Pierce Accountants.
The Corporate Finance team advised the Shareholders on a variety of exit options with it becoming clear that the MBO provided the ideal solution for all parties and ensured the long-term independence of the company.
A specialist supplier of vehicle safety equipment, Vision Technique founded in 1988 by Michael Hanson, develops products used in a wide range of industries, including construction, waste management, quarrying and mining, agriculture and blue light.
Led by a focus on product innovation Vision supplies products such as on-board vehicle cameras, collision avoidance systems, and numerous warning alarms. More recently, the company has adopted innovative Artificial Intelligence and solar power harnessing technology, to improve solutions for clients and provide the ultimate protection in commercial vehicle safety technology.
Once determining that a sale to the key management team as the preferred option, the Corporate Finance Team led by Steven Bell and supported by tax director, Dominic Ball, guided the project through to its completion.
The MBO sees the management team of Dave Smith, an employee of Vision Techniques for over 18 years, and Sarah Taylor, another employee of over nine years, transition to managing director and finance director. Michael Hanson will retain an equity shareholding along with a board position, to provide continuity and ongoing expertise.
The changes will reinforce a future of innovation and growth with the new directors guiding the company Vision Techniques’ initiatives and goals through strategic planning.
Dave Smith, Vision Techniques managing director said: “ I would like to thank Michael for the opportunity to lead the MBO. Sarah and I are keen to build upon the exceptional reputation that Michael and the shareholders have created over the last 36 years. We will continue to invest in innovative solutions, delivering world-class products to our clients.”
Pierce Corporate Finance director, Steven Bell added: “Early on we recognised the high quality of the management team within Vision Techniques that has been instrumental in driving the business to where it is today, strengthening its exceptional reputation in the sector.
"Selling to management was clearly the best option for Shareholders and the Company. We are pleased to have been able to provide guidance to the shareholders and deliver a transaction that secures the long-term success and independence of Vision Techniques.”
Greg Gardner-Boyes, Partner at KBL Solicitors provided legal advice to the sellers whilst Dean Curtis at Beever and Struthers and Benjamin Dredge of CG Professional provided financial and legal advice to the management team.
Funding for the transaction with provided by Mercia Asset Management with the investment led by Mike Rogers.
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