Aberdeen Murray Johnstone Private Equity has managed to realise its 1992 investment in AVC Media Enterprises, an Aberdeen-based audio visual, media and corporate communications specialist. AMJPE originally invested just over GBP200,000 in AVC to help the company gear up for further expansion. AVC director, Keith Main has bought AMJPE’s stake, resulting in an IRR for AMJPE’s clients of almost 30 per cent.
Main said: “In the last three years we have seen an increase in profitability and, coupled with our future projections, we believed that this was an appropriate time to buy out our investors.”
AVC now employs over 50 people and has a turnover in excess of GBP 5 million. The company provides five key services offshore entertainment, multi-media services including design and graphics, sale and rental of AV and communications equipment, conference hire and business and sports production.
Jock Gardiner, head of investment at AMJPE, commented on the investment: “AVC required a cash injection for investment in people and equipment at an important stage in their growth.” He added that the company has rapidly developed over the last ten years, acquiring an impressive client base from local firms to multi-national oil and gas companies. In addition, the company has invested in a purpose-built facility in Athens which has led to new opportunities and further growth.