Menzies rocks to DiGiCo beat
The supplier of the music equipment for the recent Live Earth mega-concert, DiGiCo, has successfully closed a £6.5m MBO thanks to accounting firm Menzies
Menzies dealmakers Jeremy Rayment,
Alan Skinner and Simon Massey acted as lead advisers for DiGiCo, which has
provided digital mixing consoles for the Foo Fighters (pictured), Kylie Minogue
and Rod Stewart, among others. The business also supplies the Royal Shakespeare
Company and English National Opera.
The music group’s MBO was backed by Matrix Equity Partners, which raised the
external finance for the deal and invested £4.6m in DiGiCo, which has customers
in 51 countries. The transaction represents an exit for a number of mainly US
shareholders who supported Bob Doyle, the current executive chairman, when he
founded the business in 2002.
DiGiCo managing director James Gordon, who also participated in the buy-out,
said Menzies had provided DiGiCo with the ‘wisdom of many years of experience
and enthusiasm’ and had played a crucial role helping to find the right legal
advisers and investors.
For more, see menzies.co.uk