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TV Mount Company set for growth with £7m funding package


AVF Holdings Limited, one of the world’s leading home entertainment support systems companies which supplies major global retailers, has undergone a £7 million refinancing backed by the Birmingham office of Yorkshire Bank.

The deal will provide the company with additional funds to support its growth plans and allow the management team, which already has a majority shareholding, to acquire the remaining equity in the business.

Established in 1978 and based in Telford, Shropshire, AVF designs and supplies wall mounts for TVs, DVDs and other home appliances. With factories in China, AVF supplies retailers including Comet, B&Q, Tesco, Argos, Wal~Mart and Costco.

With the trend for flat-screen TVs, wall mounts have become increasingly popular and are often viewed as an integral part for consumers buying a TV.

The current management team, led by chief executive David Gallimore, undertook a management buy-out in 2004.  Gallimore commented: “AVF has an outstanding national and international customer base and with this funding will grow the business at a time of expansion in the market due to the continued development in LCD and plasma TV’s.”

Steve Drury, director with Yorkshire Bank said: “AVF’s management have taken strategic decisions that have transformed the business model since the MBO in 2004, and now have exceptional products leading to a better quality customer base.

“AVF is a far stronger business than it was three years ago and one that is likely to generate impressive profits in the years ahead. The funding package we have provided will allow them to take full control of the company while at the same time providing the funding for growth.”

Catalyst Corporate Finance advised on the transaction. A team consisting of Emmet Keating and partner Richard Sanders who led the deal added: “We are delighted to continue our relationship with AVF following our work with them on their original MBO in 2004.  We are proud to have worked with such a strong midlands-based business.”

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