Apex figures add up after internal buyout (From The Wiltshire Gazette and Herald)

Apex figures add up after internal buyout

A COMPUTER firm based near Swindon has undergone a management buyout.

South Cerney-based Apex Computers International, which employs 70 people and has an annual turnover of around £20m, was bought out by a management team led by managing director Nick King from its parent company Global Computer Holdings.

The buyout was supported by Lloyds TSB Commercial Finance. For Nick it is a case of second time round.

Seven years ago he led an original acquisition of Apex an independent company from its founding in 1988 on behalf of Global, of which he was chief executive.

"Business moves on and an opportunity arose more recently for a management buyout spearheaded by a strong team with an average of eight to 10 years' experience in the business," he said. "While this industry as a whole has not been easy since the turn of 2000, we have a clear vision and goal of what Apex will achieve.

"Providing we follow our strategy, I feel comfortable about leading my team forward and achieving a successful future."

Apex has a number of high-profile customers, working with high street music retailer HMV, while other recent contracts include upgrading and supporting systems at Admiral Insurance and Fenwick stores.

Peter Anderson, senior regional manager with Lloyds TSB Commercial Finance, said: "Apex is exactly the sort of company that we are well placed to assist. The deal we put together for the new management team was a tailored financial solution, which will enable the new company to maximise the cash available."