Stage Electrics, the Avonmouth-based firm supplying lighting and sound equipment to entertainment venues, has been taken over in a management buyout (MBO).
The firm has grown from its launch in 1979 into a business turning over £30m a year with more than 225 staff, 10 sales 
offices and operations in London, Tyneside and Dubai as well as Bristol.
The MBO was supported by Stage Electrics founder and managing director David Whitehead prior to him stepping down last year due to ill health. Mr Whitehead died earlier this year and the MBO team has acquired the business from his family.
The new shareholders are led by new managing director Dan Aldridge, previously its operations director, and chairman Trevor Smallwood, the vastly-experienced West businessman and entrepreneur whose career has spanned transport group First to Bristol Water and commercial radio as well as a number of charities.
Mr Aldridge said: “Stage Electrics is in a solid position; we have an order book that is in growth, an experienced team and a strong operation. With a business plan for growth and clearly identified market opportunities there is a strong future ahead of us. As we enter our next phase of growth I am determined to ensure that Stage Electrics retains the integrity and brand values that it is known for.”
The firm is now a specialist installer, systems integrator, reseller and rental business offering a wide range of equipment and services tailored to meet the needs of theatres, education and live performance venues.
The MBO was put together and funded by a team of West professionals and led by Bristol law firm Burges Salmon and leading provider of accounting and business services Baker Tilly. Bank funding was provided by Barclays.
The Burges Salmon team was led by corporate finance partner Mark Shepherd, who said: “We are delighted to have been able to support Dan and the team in seeing this transaction through to a successful conclusion. Having worked with Stage Electrics for many years we look forward to watching the business develop still further during this next exciting phase of growth."
Ian Wherry, corporate finance partner at Baker Tilly, added: “The Stage Electrics management buy-out is a good example of the ability of the corporate finance community in Bristol to deliver sensibly structured deals, which meet the requirements of both vendors and buyers.”
Barclays relationship director, South West Large Corporate, Howard Noye added: “Stage Electrics is an impressive and ambitious business with a good quality management team and a strong aspiration for growth. The arrangement of this new facility is testament to the continuing availability of debt funding to good quality corporates and the ability of the local market to deliver such financial arrangements.”
Key members of the Burges Salmon team included Adam Love (corporate), Richard Leeming and Alistair Rattray (banking).
Key members of the Baker Tilly team included Nick Harber and Clodagh Muggeridge.
Other advisers on the transaction included Bristol law firms Roxburgh Milkins (seller legals) and Bond Dickinson (Barclays legals).
