The management team at Berkshire based Elcom Information Technology Limited is celebrating a successful management buy out [MBO] from Elcom International Inc. Lloyds TSB Commercial Finance arranged a finance package for the Ј12 million deal.
Elcom Information Technology has been established for 18 years and is a provider of computer hardware, software and other services to businesses. It employs 103 staff across its five offices in the UK.
Having run the business for the past two years, the MBO team, led by Managing Director Tony Davis, recognised the long term opportunity to grow the business through reinvestment of profits.
Peter Anderson, Senior Regional Manager at Lloyds TSB Commercial Finance quickly put together an asset based lending facility to provide the funding required to enable the directors to complete the MBO.
