The Vodat Management team have completed a Management Buyout (MBO) from its founder Mike Bielinski in a £5m deal. The deal is backed by Maven Capital Partners, a UK private equity firm.
Vodat International, established in 2002 by the current CEO and senior management team, has achieved year on year sales and profit growth, increasing sales by over 50% since 2008. The business has a current customer base covering over 7,000 live sites and places a strong emphasis on ensuring excellent service, resulting in exceptional customer retention rates.
Vodat is now one of the fastest growing providers of communications solutions to UK Retail sector, offering a range of products and services including secure real-time data networks, Wi-Fi solutions, IP Telephony services and disaster recovery. The company has also developed an innovative managed payment service which addresses the compliance challenges currently facing businesses which accept card payments, as a result of the introduction of Payment Card Industry Data Security Standards (PCI-DSS).
Neil Poultney, Managing Director of Vodat International Limited, said: “This deal gives us a fantastic opportunity to continue our strong growth by building on the diverse and innovative product offering and the provision of exceptional service. We were keen to find a partner with similar drive and ambition and are therefore really pleased that Maven chose to invest in our business.”
Mike Bielinski, CEO of Vodat International, who founded the business ten years ago, said, “I am proud of the success we have achieved over the last 10 years and am certain of Vodat’s ability to continue to grow, whilst preserving the business’s excellent reputation. I may be retiring but I want the business to continue long into the future and I know I’m leaving it in capable hands.”
Ryan Bevington, Investment Director at Maven Capital Partners added: “We’re delighted to be backing a proven management team which has developed a strong market presence and achieved significant growth despite difficult economic conditions. The business is well placed to achieve further expansion over the next few years, particularly with the roll out of the new products and services. We look forward to working closely with the team.”