Bridgend-based technology service provider for the marine sector Avantis has completed a management buyout following a seven-figure financial package from the Development Bank of Wales and HSBC.
The buyout was between current owner UK investment group Envoy and Thomas David who has become chief executive. Mr David, 30, is supported by chairman Chris David, chief operating officer Jack Jenkins, and chief commercial officer Leon Solder.
Berry Smith and Grant Thornton advised the Development Bank of Wales and Acuity Law advised Avantis.