Mergers and Acquistions News
Categories: Software
May 9th 2011, 15:36PM
IT services provider Instalec is entering a “new era of business” following a management buyout led by director Graeme Taylor.
The Scottish company will now be known as Instalec Technology Group and will be split into five specialist divisions: cabling, networks, systems, software and business consulting.
Focus will now be on expanding the business and developing its growing global client base, the company said.
Graeme Taylor, who has been with the company since 2003, said: "We have a heavy presence in the oil and gas sector and have recently established a number of international contracts. This presents us with a robust platform for our future development."
As part of the new structure, entrepreneur Steve Higgins will join the company in the role of group chairman.
According the M and A Deals this is the second management buyout which Instalec has undergone in five years. In 2006 a four-strong team, which also included Graeme Taylor, took control of the business.
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