Specialist Hire and Events business, SLX, has been sold by the Stage Electrics Group in a transaction led by the existing chief executive of the Hire & Events business, Alastair Currie.
The Bristol-based company has existed for 40 years and serves the live events, hire & broadcast markets throughout the UK.
All staff will transfer as part of the deal.
Alastair Currie, former CEO of SLX said: “Two years ago I joined SLX and at the time had no idea what an amazing business I would find. SLX is brimming with some of the most knowledgeable, talented, passionate and dedicated individuals I’ve ever come across. From delivering on incredible West End productions and national tours to utterly unique corporate events as well as being in house providers at nationally recognised top tier venues, I couldn’t be prouder of the work we do. There is still an incredible untapped opportunity and I’m confident our plans for significant investment in the latest lighting products and further investment in our technical team will enable SLX to quickly become recognised as the leading player in the Hire and Live Events sector.”
The CEO of Stage Electrics Group, Maria Townsend, added: “We believe that this decision is extremely positive for Stage Electrics, it will enable us to target our management time and focus our resources more effectively. As a market leader in installation, sales and venue services both in the UK and overseas, we felt the timing was right to concentrate purely on our core businesses.”
The acquisition was led by Currie, and was backed by Clifton Down Corporate Finance Limited. Tony Kenny of Clifton Down Corporate Finance will be joining the board of SLX.