Management Buyout at 4DM Group
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22/11/2007 The existing management team have acquired a significant shareholding in the 4DM Group, concluded on 22nd November 2007. This follows many months of speculation after earlier announcements that Grant-Salmon and Ritchie were stepping back from day to day responsibilities with a view to concentrating on future strategic developments of the business. The management buyout was agreed for an undisclosed sum. The self funding method used was the preferred option for the company enabling them to remain masters of their own destiny without using private equity funding. Grant-Salmon remains as Chairman and Chief Executive whilst Ritchie continues as Technical Director for the group, both retaining a shareholding. Grant-Salmon commented “I am very excited for the future of the group and the new team. It is wonderful to be able to provide this opportunity for such an enthusiastic and talented group of individuals” The management team led by Managing Director James Portsmouth were clearly delighted to have secured the deal. Portsmouth commented “we are a young and dynamic team who have a strong desire for success. Each of the five strong team are experts in their own field and collectively bring a great deal to the party. We will continue to build on the solid work done to date and have a very clearly defined strategic plan moving forward. This will be greatly enhanced by the experience and knowledge that Charles and Les will continue to provide.” The MBO team comprises of: James Portsmouth - Managing Director, 4DM Kettering |
