Finance Wales has provided a £140,000 debt investment to back the management buy-out (MBO) of Denbe Western, a Cardiff, UK-based events and exhibition business.
The company was acquired by Operations Director, Ian Bancroft and Rebecca Coleshill from former Managing Director, Colin Watkins and Creative Director, Alex Jenkins.
Mr. Bancroft, who has been involved with the business since it was established in 2004, will take over as Managing Director. Rebecca Coleshill will become Commercial Director.
Denbe will use the investment to grow its blue chip UK client base, which currently includes R&G Racing, Lloyds TSB and Hobbs Valve, local authorities, retailers and universities.
The company, which was formed by the acquisitions of Denbe Display and Western Event Hire, has an annual turnover of around £1m.