• Tue. Mar 5th, 2024

New Leadership for Adlib: A Management Buyout Marks a New Era for the Event Technology Provider

ByEditor

Feb 13, 2024
Adlib, an event technology firm, successfully completes management buyout

Adlib, a leading event technology provider, has recently undergone a management buyout that marks a new era of leadership for the company. The buyout was executed over several years with a focus on maintaining continuity to preserve the company’s reputation and ethos. Long-standing director John Hughes has taken on the role of managing director, succeeding Adlib’s founder Andy Dockerty.

The Merseyside-based company provides audio, lighting, and video services to the international live-events industry, working with high-profile clients like the BBC, National Museums Liverpool, and The Lowry. Over the past year, Adlib has experienced significant growth in profitability, with a pre-tax profit of £2.3m, up from £1.2m in the previous year. Turnover also increased from £16.7m to £24.8m while EBITDA rose 53% to £5.1m. This growth was fueled by an expansion of the workforce from 148 to 186 employees and an investment of £6.6m in rental inventory. This investment allowed Adlib to cater to a wider variety of clients with more complex requirements.

During this period of growth, Adlib also acquired the trade and assets of D3 Audio and Visual in March 2023, providing an opportunity to further expand into the house of worship and corporate sectors.

Andy Dockerty expressed pride in his company’s development over the last 40 years and emphasized John Hughes’ ability to lead effectively as managing director. John Hughes thanked Dockerty for his leadership and dedication to both the company and the industry as a whole.

Adrib continues its commitment to delivering world-class event technology services while staying true to its values as it embarks on this new chapter under John Hughes’ leadership.

In conclusion, Adlib is poised for continued success under John Hughes’ leadership as managing director after completing a successful management buyout that was executed over several years with a focus on continuity

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