Management moves for vehicle safety equipment firm

A specialist supplier of vehicle safety equipment – which provides products such as on-board vehicle cameras, collision avoidance systems, and warning alarms – has been acquired in a management buyout. Prominent advisers worked on the deal.

Founded in 1988 by Michael Hanson, Vision Technique (UK) develops products used in a range of industries, including construction, waste management, quarrying and mining, agriculture and blue light.

The MBO sees the management team of Dave Smith, an employee of Vision Techniques for more than 18 years, and Sarah Taylor, another employee of more than nine years, transition to managing director and finance director. Michael Hanson will retain an equity shareholding along with a board position, to provide continuity and ongoing expertise.

The Pierce Corporate Finance team advised the shareholders on a variety of exit options. After determining that a sale to the key management team as the preferred option, the team led by Steven Bell and supported by tax director, Dominic Ball, guided the project through to its completion.

Dave Smith, Vision Techniques managing director, said: “I would like to thank Michael for the opportunity to lead the MBO.

“Sarah and I are keen to build upon the exceptional reputation that Michael and the shareholders have created over the last 36 years. We will continue to invest in innovative solutions, delivering world-class products to our clients.”

Pierce Corporate Finance director Steven Bell added: “Early on we recognised the high quality of the management team within Vision Techniques that has been instrumental in driving the business to where it is today, strengthening its exceptional reputation in the sector.

“Selling to management was clearly the best option for shareholders and the company. We are pleased to have been able to provide guidance to the shareholders and deliver a transaction that secures the long-term success and independence of Vision Techniques.”

Greg Gardner-Boyes, partner at KBL Solicitors, provided legal advice to the sellers while Dean Curtis at Beever and Struthers and Benjamin Dredge of CG Professionals provided financial and legal advice to the management team.

Funding for the transaction with provided by Mercia Asset Management with the investment led by Mike Rogers.