Leading electronic and CCTV distributor DVS Ltd has been acquired in a management buyout (MBO) supported by a finance package from HSBC.
Tim Goodson led the deal for the Cardiff-based company, which is the largest independent CCTV distributor in the UK. He was supported by strategic accounts director Gavin Dunleavy.
Shaun Bowie and Scott Douglas acted as vendors for the deal. Both will retain a minority share in the business, with Mr Douglas continuing in his current role and Mr Bowie continuing in a consultant role.
Mr Goodson will now become MD and Mr Dunleavy will become strategic sales director. The business is in the process of recruiting a finance controller to further strengthen the management team.
Formed in 2003, DVS is the largest independent CCTV distributor in the UK and the largest distributor of Hikvision surveillance products in Europe. In 2015 DVS won the award for Exceptional Technical Support Service at the Hikvision European Distributors Convention.
Last year DVS moved to a new 21,000 sq ft headquarters and was named Fastest Growing B2B Company at the Wales Fast Growth 50 Awards 2015.
Mr Goodson said: “This is an exciting time for DVS as our sustained growth has allowed us to attract new customers, improve our offer to existing customers and develop our training and support services.
With an experienced team of managers driving the business forward we will continue to grow organically while offering the same high levels of value-added service to our customers.”
Mr Bowie added: “Both Tim and Gavin have the right drive, ambition and talent to continue DVS on its exciting journey alongside Scott and the rest of the management team whilst ensuring the DNA of DVS remains. The MBO was the correct route for the business and most importantly the staff who have been a huge part of this company’s incredible growth and success.”