A group of Birmingham advisers have engineered a multi-million pound management buyout of a leading electrical software supplier.
The £17 million MBO of Amtech was put together by the corporate finance department of Kroll, with funding from HSBC Private Equity and HSBC Bank Leveraged Finance.
Milton Keynes-based Amtech, which has a 40-strong team, has grown rapidly since it was established in 1991.
The company, which also has offices in the US, supplies software worldwide to electrical contractors, consulting engineers, electrical equipment manufacturers, and blue chip companies.
Managing director and shareholder Mark Tindall, who has worked at the firm as director for 14 years, headed the management buyout team.
It includes James Cooper, sales director, and Paul Hale, operations director. John Juggins and Simon Hunt will be joining the board as the firm's finance director and non-executive chairman respectively.
Mr Tindall said: "This is a very exciting time for the company as we continue to expand our product base. We will build on our principles of delivering world class software products and after sales service whilst utilising exciting new technologies as they become available."
Gary Ecob, director of corporate finance at Kroll, said: "This is yet another big national deal driven by Birmingham advisers.
"We are very happy to support Mark Tindall and other members of the management team achieve their aim in what turned out to be a lengthy deal process over a number of years.
"Amtech has had phenomenal growth consistently over the last five to ten years and is well positioned to further enhance its market leading position."
Mahmoud Atalla, of HSBC Private Equity, said: "We are very much look forward to helping Amtec."