Blackstar Amplification, a Northampton based Musical Instrument Amplification company, has successfully completed a Management Buy Out (MBO).
The deal sees the exit of Foresight VCT and was backed by Shawbrook Bank. The deal means that Blackstar will remain an independent company with founding management owning a majority share in the business.
Ian Robinson (co-Founder, Managing Director) said: “This marks an exciting new chapter in Blackstar’s history, which will allow us to retain our independence and gives us the opportunity to take our business to the next level. We are looking forward to forging a strong relationship with Shawbrook, who have shown a real interest in our business and future growth strategy.”
Mark Parsons, Relationship Director at Shawbrook Bank noted “I’ve spent a lot of time with Ian, Paul and the team at Blackstar and we were excited about the direction and potential of the business. By helping to return ownership to the founders, at Shawbrook we’re now looking forward to supporting Blackstar all the way up to 11.”
Paul Hayhoe (co-Founder, Sales & Marketing Director) said: “It’s been a pleasure to work with professionals like Stephen Orris at RSM and Gary at Freeths, their deep knowledge and experience has been fundamental to us delivering this transaction.”