A Lancashire telecoms company has undergone a management buyout backed by a six-figure loan from Mercia Fund Managers.
The deal, which will secure the future of Blackburn-based Abbey Telecom and the jobs of its 17 staff, gives control of the business to director Andy Wilson and accountant Andrew Botham.
Wilson, who now becomes managing director, joined the business four years ago to help drive its growth. He has extensive experience within the telecoms and software sectors, having held senior roles at BT and at Ryder Systems in Blackburn, which he helped to grow from a small firm to an international business which was sold to a US corporation.
Botham, who joins the board as a non-executive director, is a chartered certified accountant and entrepreneur.
Peter Rooney, investment manager at Mercia, said: “Abbey Telecom is an established Lancashire business which has been growing year on year.
“Andy and Andrew both have a strong track record in their fields and with their industry knowledge and business acumen, they are ideally placed to take it from strength to strength.”