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Asset Solutions MBO confirmed from OCS Group

05 June 2018

Completion of a management buy out (MBO) of the Asset Solutions division from OCS Group has been announced, including a £13m investment from private equity investor LDC.

It previously traded as OCS Asset Solutions and will now operate as Retail & Asset Solutions and Vehicle & Asset Solutions in the UK.

Its operation in Ireland will henceforth trade as Retail & Vehicle Solutions.

The business is a provider of supply chain management, stocktaking and merchandising services to the grocery and general retail sector.

Vehicle and asset auditing services are additionally provided to the finance and banking sector.

Based in Orpington, Kent, the business recorded sales of £35m in the financial year up to end of December 2017 and predicts growth of approximately 15% in the current year.

According to the LDC website, the management team now plans to invest further in technology-enabled services while consolidating the company's UK position and reviewing overseas expansion opportunities.

The management team currently consists of chief executive officer Lois Heywood, finance director David Wilson, sales director Graham Parker, operations director Paul Neal, HR director Lucy Moore and operations director Marc Yardley.

It has appointed Greg Ball as non-executive chairman and LDC investment directors Rob Schofield and Victoria Marcer will also join the company's board.

Completion of the deal was assisted through legal advice to Asset Solutions Group from Shakespeare Martineau, with OCS Group advised by BDO and LDC assisted by PwC and Browne Jacobson.

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