Reseller OCF reborn after MBO

Management team buys up assets and name

Reseller OCF has been renamed OCF Plc after a management buy-out. The company, which specialises in high-performance computers, went into receivership last month.

Julian Fielden, former managing director of OCF, along with three other managers, made an offer to receivers PKF for certain assets of the business, including the right to use its name.

Funding was acquired from First National Invoice Finance, which will also fund working capital requirements, Fielden said.

"We will continue to represent SGI, IBM, Compaq and Hewlett Packard in a number of vertical markets. We will also offer technical computing solutions in key horizontal business sectors. We are up and running for business," he added.

Nitin Joshi, a partner at PKF's corporate recovery and insolvency practice, confirmed that OCF had been bought by the management team. "OCF Plc is being supported by the major franchises. A major increase in public spend has been forecast, so it should do well," he said.