IT solutions firm boosts growth with 'perfect' management buyout

Newcastle-based IT firm Perfect Image has undergone a management buyout in order to continue its expansion.

The company’s former chief operating officer Rob Hankin and sales and marketing director Andrew Smith have completed a management buyout, supported by the backing of private equity firm Chiltern Capital.

Andrew commented: “Our success has been built on our people and on the services we provide. The future of our business is in maintaining and improving that, by investing in our people and developing our expert teams.

“This investment will allow us to continue our ambitious growth plans, to improve service delivery for our customers, and to strengthen our market position with new and innovative products and services.”

Founded in 1991, the firm is based at Cobalt Business Park specialises in intelligent IT solutions and has worked with vendors such as Microsoft, Amazon Web Services, Qlik and Alteryx.

Following the buyout, which was managed by UNW LLP with legal advice from Ward Hadaway, the firm will now be led by Rob, who has taken the role of chief executive officer, alongside sales and marketing director Andrew.

Also joining the firm’s board are Thomas Holroyd and Mark Coronato from Chiltern Capital, as well as new chairman Tom Kelly.

Thomas Holroyd, investment director at Chiltern, said: “We are delighted to be supporting Rob, Andy, and the rest of the Perfect Image team at such an exciting time for the company.

“The company is well-positioned in an expanding market which is supported by strong structural trends towards cloud- based services and the application of data analytics.

“We look forward to working closely with the ambitious team and chairman during the next phase of the company’s growth.”

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