Successful buyout of the Digital Barriers Services Division
Andy Durham and his Team are delighted to announce having successfully completed a Management Buyout (MBO) of the UK Services Division of Digital Barriers in May 2016.
The Services Division within Digital Barriers had extensive knowledge in the provision and installation of complex electronic security and surveillance systems to demanding UK Government customers. In May 2016, on completion of the deal Esotec successfully secured this expertise, along with the employees, skills and knowledge base, along with the novation of £2M of existing customer recurring revenue contracts.
The Digital Barriers Services Division had a strong pedigree and had successfully delivered many prestigious projects over the years. The business had an excellent customer base and had delivered design, installation and support services to over 5000 projects across various markets including UK government agencies, two major UK sporting events and many high-profile clients.
The trading history for Digital Barriers Service Division (now Esotec Limited) was wrapped within Digital Barriers Services PLC Group Accounts and listed on the London Stock Exchange.
Andy commented “This is a great deal for us and I am delighted to have autonomy in the business once more, this will allow us to develop the business and concentrate on our customers' requirements once again. I am excited about the year ahead and the team we have within Esotec, and I strongly believe we can take the business to the next stage of its development.”