DB Systems growth capital deal advised by Transcend Corporate

 

Members of the i-DealNet team, led by Ian Curtis and Sabial Hanif assisted in leading and negotiating a £4m package of growth capital to fuel DB Systems’ future growth plans by introducing equity investors WestBridge Capital.

Founded in 1994, by David Bulley who continues as CEO, Tewkesbury-based DB Systems supplies state-of-the-art audio visual and IT equipment, interactive software and temporary network infrastructure to trade shows, large exhibitions and live events in the global events market.   Sales and employee numbers have grown rapidly in recent years. The business now has annual revenues of £8m and 63 employees.  It supplies equipment to some of Europe’s best known events and venues, including Farnborough International Air Show, Mobile World Congress Barcelona and Aberdeen Exhibition & Conference Centre, as well as technical support to trade show organisers across Europe, the Middle East and Asia.

David Bulley said: “This is a very exciting time.  I remain passionate about what we do and after years of carefully nurturing this business into a respected and trusted supplier, we now have a significant capital injection to help us realise our future growth potential.    “i-DealNet have been a huge help in introducing and delivering a complex package of equity and debt finance.  Their willingness to roll up their sleeves and help overcome the numerous hurdles as the deal came together has been indispensable.”

Ian Curtis at i-DealNet commented “we are delighted to have provided the shareholders of DB Systems with a solution which will provide a fabulous platform for its future.”

WestBridge Capital partner James Wakefield, who worked on the transaction with colleague Sandy Smart, said:   “We believe DB Systems’ market leading position provides a springboard for significant future growth. The additional capital will boost business development and allow investment in the latest audio visual equipment which will enable the business to accelerate its expansion plans.   “Despite a global market value of US$27bn, the sector is very fragmented so we will also be considering value-enhancing acquisition opportunities. Working closely with David and the management team, we’ve already identified a number of key strategic opportunities for the business over the next few years.

“The structure of the transaction should prove mutually rewarding.  It means David will remain very much hands-on in the business, while the management team he has built around him will also have an ownership interest.