Catapult invests in logistics company

The Milton Keynes-based company plans to increase business volumes from existing customers, which include Fujitsu, Getronics and Phoenix IT, and acquire new customers.

Acquisitions are not part of the core strategy but may be made if suitable opportunities arise. The company has made small bolt-on acquisitions in the past.

Debt
Asset based financing was provided by Centric Commercial Finance.

Company
echo was established in 1995. It provides technical and logistical support services on a round-the-clock basis. The company employs 130 staff directly and has a further 200 field engineers.

The company's turnover is around £13m with a £1m EBITDA.

People
Richard Bucknell is Fund Principal at Catapult Venture Managers.

Advisers
Equity - Browne Jacobson, Richard Medd (Legal); RSM Tenon, James Carnegie (Financial Due Diligence)
Management - Mazars, Steve Talbot (Financial); Tollers, Kiran Virk (Legal)
Company - BDO, Christopher Clark (Financial)
Debt - Bermans, David Gledhill (Legal)

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• Topics
• UK / Ireland
• Buyouts
• Support services
• Catapult Venture Managers