bChannels, an Oxford, UK-based provider of solutions for technology companies to optimize routes to market, develop channel programs and manage relationships with channel partners, has completed a management buyout backed by private equity firm RCapital Partners LLP.
The deal, whose amount was not disclosed, was led by bChannels’ management team, Matt Rowland-Jones, Phil Gowing and Chris Bard, who acquired the company from its parent company Adventis Group Plc.
RCapital supported the management buyout in a two-staged process. The firm firstly purchased the bank debt from Lloyds TSB Bank plc and Lloyds TSB Commercial Finance Limited and secondly it helped the management team buy back the shares in the business using RCapital’s growth fund.
Set up twelve years ago, the company currently operates globally from bases in UK, West coast of the USA and Asia. Clients include Cisco, IBM, Symantec, SAP and HP.