A Warrington-based broadcast hire business that supplied equipment and services to the 2016 Rio Olympics has been bought in a private equity-backed deal.
Avesco Group, a provider of services to the corporate presentation, entertainment and exhibition markets, has disposed of subsidiary Presteigne for £5m in cash.
Presteigne specialises in the hire of video, audio and wireless technology for professional broadcast productions. The company is headquartered in Crawley with an additional office in Warrington.
It has been purchased by Presteign Broadcast (2016) Ltd, a company that will be led by Presteigne’s longserving chief executive Mike Ransome and supported by funding from private equity firm NVM Private Equity.