Livingstone advises on the buy-out of AVM

June 2012

Livingstone Partners’ media:tech team has advised the vendors on a secondary management buy-out (MBO) of AVM, the UK’s leading provider of visual communications solutions which operates at the forefront of the unified communications market.

AVM was established in 1990 and is the leading visual communications systems integrator in the UK. The company provides a complete range of video conferencing and audio visual services to the private and public sectors and its services include supporting complex IP-based video networks, managing and maintaining telepresence suites, providing audio-conferencing, digital signage and equipping training rooms and presentation areas with state-of-the art technology.

AVM has grown both organically and through acquisition with revenues of circa £40 million to 30 June 2012.

The buy-out, led by CEO Edward Cook sees growth capital investor Alcuin Capital entering as lead investor with further funding provided by Indigo Capital to support continued growth and potentially further acquisitions. The transaction provides an exit for AVM Chairman Sandy MacPherson and venture capital investor Octopus Investments, which backed the MBO of AVM in 2006.

Edward Cook, CEO of AVM, commented “This transaction gives us the added fire power to take AVM to the next level. I want to thank Livingstone for guiding us through the transaction and introducing Alcuin who we look forward to working with.”

Adrian Lurie, Partner at Alcuin, said, “We are delighted to be investing alongside Ed and his team to support the continuing success of AVM. We were pleased to work with the Livingstone team to successfully conclude this complex transaction.”

Jane Vinson, a director of Octopus’ ventures team, added “AVM has been a strong investment for Octopus, delivering year-on-year growth. Livingstone managed a well-run, multi-party process achieving a great result for us and the business going forward.”

The Livingstone team was led by Eleanor Wilkinson, with support from Simon Cooper. Wilkinson concluded “AVM has the right management team and market position to continue to lead this growth sector. It has been a pleasure to work with the team and deliver a deal that works for the exiting shareholders and on going management team alike.”

The completion of the AVM MBO represents Livingstone’s fourth tech deal in less than 12 months highlighting the sector’s continued attraction for trade and private equity alike.

For more information contact:

Tom Phipps
T: +44 20 7484 4717
E: phipps@livingstonepartners.co.uk

Eleanor Wilkinson
T: +44 20 7484 4742
E: wilkinson@livingstonepartners.co.uk