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Networking specialist Axial Systems is poised for growth after its managing director led a buy-out at the company.

Ash Hussain was joined by finance director Graham Linney in buying the company, which supplies networking systems to the financial services, telecom and public sectors, for an undisclosed sum.

The buy-out team received £5.6 million from private equity firm NVM to complete the deal, with debt supplied by HSBC.

Hussain said the buy-out gives management the funding it needs to grow the business. “A partner in NVM, which is committed to our future growth and share our vision, can only help us to achieve that.”

NVM, which was led by Richard Gibson, Peter Hodson and Mauro Biagioni, was introduced to the deal by Duncan Lamb at Grant Thornton, who project managed the deal for the vendors.

Gibson said Axial operates in a market that has significant growth opportunities, which its experienced management can exploit. “Their strong track record of growth, customer service record and strong management team demonstrated a good investment potential for us.”

Axial’s founder Paul Spencer remains with the company as a non-executive director following the sale. NVM has introduced Peter Lloyd as non-executive chairman, due to his 16 years’ experience in the sector, where he led a buy-out at Ascent Technology.

Maidenhead-based Axial, which has been trading for almost 20 years, has a sales office in Runcorn.

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