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Hazlewoods Corporate Finance advise on the Management Buy-Out of e-DBA Limited

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28 September 2011

Hazlewoods Corporate Finance, leading business advisers and chartered accountants, have recently advised on the Management Buy-Out (“MBO”) of e-DBA Limited.  The Hazlewoods team was led by Corporate Finance Partner, Paul Fussell.

e-DBA, which has offices in Brighton, East Sussex and Stansted, Essex was founded in 1998 and is a specialist provider of software, hardware, cloud services and 24x7x365 managed services, primarily Oracle database software, to the private and public sectors.  The transaction involved the management team comprising Managing Director, Alex Louth, Technology Director, James Anthony and Non Executive Chairman, Richard Cook acquiring shares held by e-DBA founders, Justin and Lisa Hudd.

Debt finance was provided by the Co-operative Bank.  Chris Mapp, Business Development Manager at the Bristol Corporate Banking Centre, said: “e-DBA is a business that is moving forward strongly, operating in a growing market with strong and proven management and we were delighted to provide the financial backing for the new team to take it to the next stage of its expansion."

Bank financial due diligence was performed by the Bristol office of Baker Tilly.  Bank legal advice was provided by the Swindon office of law firm Thrings.  Legal advice for the MBO team was provided by Ben Walmsley of Spring Law.

Managing Director Alex Louth commented on the deal “Working with Paul and Hazlewoods has been one of the easiest choices we (MBO Team) have made. Their experience and knowledge is second to none. This is a big step for e-DBA but one which will propel us for further growth, investment and continued innovation. We are delighted to have Hazlewoods as one of our key partners and look forward to continuing our successful relationship”.
 
Paul Fussell of Hazlewoods Corporate Finance noted ''e-DBA is an extremely well regarded company, having recently won Oracle's Technology Partner of the Year award. Alex and James have significant industry knowledge and experience and are well placed to develop and grow the company.  The MBO team will bring new energy and ideas to the company, so as to enable it to fully benefit from the ever changing high tech world.  We wish Alex, James and Richard every success for the future and look forward to playing an active part in advising the company going forward”.