• Sat. Feb 24th, 2024

Adlib Undergoes Management Buyout: A Journey to Continuity and Growth in the Live Events Industry

ByEditor

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

Merseyside-based audio, lighting, and video services provider Adlib has recently undergone a management buyout, marking a significant shift in leadership for the company. The buyout was executed over several years with a focus on continuity to maintain the company’s reputation and ethos. Long-standing director John Hughes will now take on the role of managing director, succeeding Adlib’s founder, Andy Dockerty.

The rest of the management team, including directors Dave Kay, Phil Stoker, and Dave Jones, will continue in their roles. Dockerty will maintain an active involvement in daily operations as a director. Adlib provides its services to the international live-events industry, working with high-profile clients like the BBC, National Museums Liverpool, and The Lowry.

In the year to 30 April 2023, Adlib saw a significant increase in profitability. With a pre-tax profit of £2.3m up from £1.2m in the previous year and turnover increasing from £16.7m to £24.8m while EBITDA rose 53% to £5.1m. Additionally, the company expanded its workforce from 148 to 186 employees over the same period and invested £6.6m in its rental inventory which allowed them to cater to a wider variety of clients with more complex requirements . This investment also provided an opportunity for Adlib to acquire the trade and assets of D3 Audio and Visual in March 2023 expanding into house of worship and corporate sectors furthermore .

Andy Dockerty expressed his pride in Adlib’s development over the last 40 years and emphasized John Hughes’ ability to lead effectively as managing director ,John Hughes also expressed gratitude for Andy’s leadership and dedication to both company and industry as whole he acknowledged Dockerty’s contributions and passion that played important role in developing aspiring engineers

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