09/07/2013

Founding Management Team buys back RISC Group UK

North Wales based Risc Group IT Solutions has undergone a management buyout from its French parent company, Risc Group SA, to bring it back under UK ownership.

The reunited management buyout team, who successfully founded and grew the business, consists of current Managing Director Jeremy Keane, ex-HR and Finance Director Joanna Stewart and founder and former CEO, Paul Roberts.

The deal enables the Llandudno business to further grow its core areas of cloud services, data backup and IT security. It also means safeguarding eight existing jobs, the creation of new job opportunities at the head office in Llandudno and additional investment in the local economy – something which the team feels very strongly about.

The management buyout was completed with the support of leading SME investor, Finance Wales http://www.financewales.co.uk/) and HSBC.

Paul Roberts said: “People are important to us. We pride ourselves on our team of highly skilled individuals who have made Risc the success it is today. We’re proud of the unrivalled levels of service and support we can offer our Customers and Partners. The MBO has created an increased stability within our company and employees feel part of a winning team with a vision.

We are making direct investments of around £750k, expanding the business, securing the existing jobs, creating more jobs and adding to our exciting cloud services for businesses and public sector organisations of all sizes.

James Henderson, Investment Executive at Finance Wales said:“Finance Wales is pleased to back a proven management team which recognises where the company’s future growth will come from.  The team came up with convincing plans to strengthen the company’s current offering and capitalise on a growth market.  They’re also keen to invest in the local community, something that we fully support. We wish them well as they put their plans into action.”