Nigel Cooper is to acquire 100 per cent of the share capital of venue-finding, event production and event management company Zibrant through a management buy out.
The purchase by the company Chairman follows the news that Zibrant’s parent company, Motivcom plc has agreed a £41m offer by Sodexo to acquire its incentive and loyalty brands.
The purchase of Zibrant’s share capital will be undertaken by Cooper’s own company Zebra Ltd, with the £2.9m deal expected to be finalised in mid-November 2014.
Zibrant has recently undergone a period of significant investment in its overall IT infrastructure and has streamlined its business to reflect clear product offerings, from procurement and compliance of policies to the creative live event sector.
A company statement says the offices and personnel in Derby, Milton Keynes, Faversham and Godalming will all remain unaffected by the MBO.
Nigel Cooper, Chairman of Zibrant and a 10.78 per cent shareholder in Motivcom, said: “We have a great opportunity and I am thrilled at the prospect of what we can achieve. The recent investment and developments have already resulted in a leaner, fitter, more dynamic and more focussed business with strong levels of new business wins. We will continue to develop and invest in our products and service infrastructure and further develop our presence in the meetings and events sector”.
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