Comtec Europe has become the subject of a management buy-out led by private equity firm RJD Partners.
As part of the deal, RJD and HSBC Bank have become investors in the technology company, which will by run by a senior management team led by chief executive Simon Powell.
Dominic Twitchin and Chris Chiles, co-founders with Powell, have exited the business.
The equity is now shared between Powell, client relationship director Richard Turner, finance director Matt Wakerley, chief technology officer Humphrey Sheil and sales director Howard Frost, with funding from RJD and HSBC.
Powell said the company was now looking at making “strategic acquisitions” to take it to the next stage of growth.
By Bev Fearis
