Gearbox assets sold to ES Broadcast
Azule Finance provides funding for equipment element of buy-out deal
London, 23 February 2016: ES Broadcast has acquired the assets of cialis online Gearbox, the kit hire business, from broadcast equipment dealer CVP.
The deal is for an undisclosed sum and includes a significant portion of rental equipment assets, the transfer of dedicated hire personnel and an office at Media City UK in Salford.
The assets and staff will become part of ES Broadcast Hire with the Gearbox brand remaining the property of CVP. Azule Finance provided funding for the deal. Edward Saunders, the managing director of the ES Broadcast Group, said: “This is a substantial step forward for ES Broadcast Hire. It not only strengthens our position in the UK hire market but buy viagra online also enhances our http://canadianpharmacy2treated.com/ position as a leading European player. It will also allow us to introduce cialis generic a number of new client synergies.”
Mark Forth, the managing director of CVP, added: “By withdrawing from the hire market we will be able to focus our resources and efforts on taking our sales service to a new level of excellence.” ES Broadcast is a Watford-based supplier of new and used television broadcast equipment.
It is an authorised Grass Valley dealer and an official supplier of Canon equipment. Azule Finance is a leading provider of asset finance and leasing solutions for the media and technology sectors in the UK and across Europe.
Azule chief executive Peter Savage said: “Although we are predominantly known as a broadcast asset finance company we also are able to provide various types of business acquisition finance. This was a deal that needed to be completed quickly and confidentially. The end result was a win-win all round”
By Peter Savage
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