Chiltern backs Perfect Image MBO

Financial details of the transaction remain undisclosed, though Chiltern typically writes equity cheques of up to £15m.

The transaction was led by the company's CEO Rob Hankin, and sales and marketing director Andrew Smith. Under its new ownership structure, the business will invest in product development and expand its team.

Chiltern has introduced former BCN Group, SipSynergy and Ospero chairperson Tom Kelly, currently chair at Agilitas IT, as chairperson at Perfect Image. Chiltern investment director Thomas Holroyd and investment manager Mark Coronato will also take seats on the company's board of directors as part of the deal.

Perfect Image founder Andrew Robson will continue in the role of non-executive director.

Company
Founded in 1991, Newcastle-headquartered Perfect Image is an IT consultancy. It specialises in cloud-based services and the application of data analytics, and distributes products by Microsoft, Amazon Web Services, Qlik and Alteryx.

People
Chiltern Capital – Thomas Holroyd (investment director); Mark Coronato (investment manager).
Perfect Image – Rob Hankin (CEO); Andrew Smith (sales and marketing director).

Advisers
Equity – Dow Schofield Watts (financial due diligence); CIL (commercial due diligence); Marriott Harrison (legal).
Vendor – UNW, John Healey, Gareth Phillips (corporate finance); Ward Hadaway, Katherine Hay-Heddle (legal).

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• Buyouts
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• Dow Schofield Watts