Verisona Solicitors has advised on the management buyout of Technology Means Business Group Ltd (‘TMBG’). The IT support services company was acquired by its executive directors from a group of investors. 

TMBG operates from Havant, Colchester and Chatham through its two subsidiaries TMB Solutions Ltd and Computerwise Ltd.  Collectively, the group has a turnover of £2.5m and employs 30 staff.  

Tina Verney, Managing Director of TMBG, said: "This is a well established and successful company based on the level of skills within the organisation and customer support. The MBO was the logical next step with the original investors having taken the company through the last 10 years of growth. The MBO is a natural evolution of everyone’s committed efforts to continue growing an organisation that we are certainly all proud of.”

Lawrence Furlong, the lead legal adviser to the deal at Verisona added: “It has been a great pleasure to have advised on the legal aspects of the MBO. I wish the new management team and its employees every success with the ongoing development of the business.”

The Verisona legal team comprised Lawrence Furlong, Sue Ball and Michael Dyer, who are all solicitors within Verisona’s commercial services team, and who regularly act for clients on similar transactions.

The acquisition is testament to the broad range of work Verisona’s commercial team is involved with and includes legal assistance for areas such as mergers and acquisitions, business start-ups, commercial contracts and all aspects of employment law.