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07 Apr 2008
Staffordshire-based Stone Group has been the subject of a private equity funded management buy-out (MBO), its second in three years.
The firm, which employs nearly 200 staff, configures servers, desktop PCs and notebooks to order for a range of education customers, plans to pursue its organic growth strategy with the £28m deal, in partnership with private equity firm RJD Partners.
Jill Williams, RJD Partners representative, said: "Stone is one of the UK's leading independent suppliers of IT hardware to the public sector, with a strong reputation for service. We are excited to have the opportunity to work with the management team to continue to build on their success to date."
Further reading
James Bird, chief executive of Stone Group, will keep his position, post deal completion.
He said: "This transaction is designed to provide Stone with the right shareholder base to allow us to continue with our strategy of organic growth, through continued focus on customer requirements and provision of a comprehensive, first class service to satisfy these, together with selective acquisitions where these complement and enhance our existing business."
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