DB Systems receives £4m in financing, eyes acquisition opportunities

Event tech company DB Systems has received £4m in financing to support future growth plans, alongside considering "value-enhancing acquisition opportunities".

DB Systems currently employs 63 people
DB Systems currently employs 63 people

Westbridge Capital led the funding drive. James Wakefield, partner at the firm, praised DB Systems’ "market leading position" and plans for future growth.

He said: "The additional capital will boost business development and allow investment in the latest audio visual equipment which will enable the business to accelerate its expansion plans.

"Despite a global market value of $27bn [£17.8bn], the sector is very fragmented so we will also be considering value-enhancing acquisition opportunities." 

The company’s DB Pixelhouse product won the Event Award for the Best Event Technology in October, while the company currently sees annual revenues of £8m.

It works with a number of large-scale events, including Farnborough International Air Show and Mobile World Congress Barcelona.

David Bulley, founder and chief executive of DB Systems, said: "This is a very exciting time. I remain passionate about what we do and after years of carefully nurturing this business into a respected and trusted supplier, we now have a significant capital injection to help us realise our future growth potential."

Wakefield added: "The structure of the transaction should prove mutually rewarding. It means David will remain very much hands-on in the business, while the management team he has built around him will also have an ownership interest."

More: DB Systems appointed to government events framework

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