mclcreate completes management buyout19 January 2018
The management team of the UK’s largest integrated live events company, mclcreate, has completed a management buyout of the business from the NEP Group for an undisclosed sum, with specialist funding from Shawbrook Bank.
mclcreate’s expertise and experience is founded on rewarding live event partnerships with major organisations, including Royal Mail, Ricoh, Swinton, Epson and many others. mclcreate not only has its own in-house technical equipment and breadth of expertise to support these relationships with its customers, but also offers a wider suite of digital, creative and account management services to provide a complete solution. The company offers nationwide and international coverage from offices in London, Birmingham, Manchester, Edinburgh and Glasgow.
As part of the MBO, the management team also acquired Media Control UK Ltd, a non-trading company which holds the long term (999-year) lease on the Manchester property. NEP Group acquired mclcreate’s parent company Avesco in January 2017.
To maximise the funding available, Shawbrook Bank structured and delivered a comprehensive all-asset facility, comprising a revolving invoice discounting line, sale and leaseback on equipment assets and a property term loan.
Tim Spencer, previously MD of the business and now the new CEO, commented: “With the backing of Shawbrook Bank we can now take our business forward independently with the freedom and flexibility to grow the company, take advantage of market opportunities and realise its full
We have developed a very solid relationship with Shawbrook Bank. Right from the outset, the Shawbrook team demonstrated a positive approach to support us with the MBO and that gave us real confidence in the process. They went the extra step to meet us face to face to understand our business and the course we are on. They are market specialists with a deep knowledge of the assets they are funding. They were very supportive, helpful and available and showed great perseverance in getting the deal done.”
David Moran, Regional Managing Director at Shawbrook noted: “This management buy out deal has ensured that mclcreate is fully primed for a new era in event delivery. We are delighted to back Tim and his highly experienced management team with both the funding for the MBO and ongoing working capital to grow the business and wish them every success in delivering a truly integrated solution at the vanguard of their industry.”