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The managing director of networking specialist Axial Systems has led a buy-out at the company. Ash Hussain was joined by finance director Graham Linney in buying Axial, 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.

NVM, which was led in the transaction 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,' he adds.

Axial’s founder Paul Spencer remains with the company as a non-executive director following the sale. NVM has introduced Peter Lloyd, who has 16 years' experience in the sector, as non-executive chairman.

Established almost 20 years ago, Axial Systems is based in Maidenhead and has a sales office in Runcorn.

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