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

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

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

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

Comment below to let us know what you think.

For more in-depth and print-only features, showcases and interviews with world-leading brands, don't miss the next issue of Event magazine by subscribing here.

Follow @dollydeighton

Subscribe today for just $116 a year

Get the very latest news and insight from Campaign with unrestricted access to campaignlive.com , plus get exclusive discounts to Campaign events

Become a subscriber

GET YOUR CAMPAIGN DAILY FIX

The latest work, news, advice, comment and analysis, sent to you every day

register free