MBO of Avonmore Developments-backed firm Bybox
Following Avonmore Development’s EIS seed investment into the firm all the way back in 2002, when it had a turnover of just £100k/annum, Bybox has grown into a market leader in supply chain solutions within the UK market. After several strategic acquisitions over the last few years, it is forecast to reach a turnover of £73M in 2016. This was achieved this without any further equity financing since our original investment in 2002. Chaired by Stephen Bullock (another LBA investor), Simon Blakey acted as a board advisor representing non management shareholders. The exit delivered substantial returns to all the original angel investors with the MBO valuing the business at £105M.