Project Nevern Press Release
Caldey Corporate Finance is delighted to announce the sale of Aztec Event Services Limited (trading as “Aztec”) to Pixelhouse Group Limited (“Pixelhouse”)
The team at Caldey Corporate Finance led by Adrian Dray and Janine Vitali, advised the Board and Shareholders of Aztec Event Services Limited, (UK trading company and holding company for Aztec’s European operations based in Barcelona) on the sale to, Pixelhouse Group Limited.
Aztec is a highly successful leading UK and European technical staging business (aka Technical Production/AV Company) renowned for delivering world class audiovisual and technical production services to exhibitions and corporate events. Aztec also provides an online ordering service enabling exhibitors to seamlessly hire audiovisual equipment with full on-site technical support, providing a totally comprehensive service package. Aztec is regularly recognised by its clients for its technical expertise and consistent high quality service delivered through a suite of fully interfaced IT solutions, that underpin its service delivery. Aztec has built a strong brand name, identity and reputation for delivering consistently high quality service.
Aztec is owned and run by John Robson and Steve Colesell. John joined the business in 1999 and led a Management Buy Out in 2006. Aztec has grown under John and Steve’s stewardship including the expansion into Europe with the successful opening of the Barcelona operation in 2018. Aztec successfully weathered the Covid Pandemic (that sadly sent many companies out of business) and has subsequently gone from strength to strength
Pixelhouse is a supplier of audio visual and IT rental services, interactive software and temporary broadband network infrastructure for customers in trade shows, sales events and other promotional activities
John Robson, as major shareholder and CEO, engaged with Caldey, following the introduction and recommendation from Aztec’s long standing accountants and tax advisers RJP LLP, with the key objective of Caldey leading and completing a deal with an acquisition partner that fully understood and valued the market position and quality of work delivered by Aztec, alongside having complementary values and culture in servicing their respective clients.
John commented “Even though I led the MBO back in 2006, I had no knowledge or experience of selling a business. I therefore turned to my accountants who recommended Caldey. From first meeting Janine and Adrian, I was impressed by their focus on my personal objectives and how these aligned with Aztec.”.
He commented further:
“I appreciate all deals are different, they have their ups and downs. Throughout the whole process, Janine and Adrian, were always on the front foot, proactively navigating the deal process. They have very different and complementary skills sets which created a number of solutions to some difficult and challenging problems. They were always available, translating the complex elements of the M&A commercial and legal process in a clear manner that gave me clarity in terms of options and the implications of those options.”.
Without Caldey, I don’t believe this deal would have completed, as their innovation and ideas made all the difference; however, beyond that, it was a pleasure and fun to work with them. This deal is the first tentative step towards eventual retirement in 3 or 4 years time and, therefore, I am unlikely to go through this process again, but if I did, I would engage Caldey in a heartbeat.”.
Janine Vitali of Caldey commented “Caldey’s sole purpose is to deliver the best possible result for owners of businesses who have taken the huge risks of buying into businesses and investing their money and their lives in their success. The purpose of Caldey is to help them on that eventual Journey to Value. For each of our clients, it is a different and very personal journey. Our role is to work closely with and alongside our clients to deliver to their objectives.
We have thoroughly enjoyed working with John and his team, firstly preparing and planning for the sale and then executing a deal with Pixelhouse. John has created a great business, that first stood up to the Covid Pandemic, which overnight stopped the whole industry and then became even stronger and more successful since that period. It was a pleasure to be able to present Aztec as the great business it is and work with the Pixelhouse team to conclude a deal that meets all parties objectives and allows Aztec and most importantly the Aztec team, to continue to deliver exceptional service to its customers.
We look forward to continuing to hear the great successes of Aztec alongside its new partner Pixelhouse.”
Caldey Corporate Finance is an independent advisor to entrepreneurs, owner managers and family-owned businesses. Caldey supports its clients and their businesses on their journey to value through delivering strategic advice, fund raising and acquisition services as well as exit planning and execution.
www.caldeycorporatefinance.co.uk
Contacts
Adrian Dray
07711 473237
Janine Vitali
07949 026229