Adlib, an event technology provider, recently completed a management buyout marking a change in the company’s leadership. The buyout took place over several years with a focus on continuity to maintain the company’s reputation and ethos. Long-time director John Hughes will now take on the role of CEO, succeeding Adlib founder Andy Dockerty. The rest of the management team, including directors Dave Kay, Phil Stoker and Dave Jones, will continue in their roles.
In the year to 30 April 2023, Adlib saw a significant increase in profitability with pre-tax profits of £2.3m, up from £1.2m in the previous year. Turnover also saw a significant increase from £16.7m to £24.8m while EBITDA increased by 53% to £5.1m. The company expanded its workforce from 148 to 186 employees over the same period and invested £6.6m in its rental inventory which will enable Adlib to satisfy more clients with more complex requirements. Additionally, Adlib acquired the business and assets of D3 Audio and Visual in March 2023 providing an opportunity for further expansion into the worship and corporate sectors.
John Hughes expressed his gratitude to Andy Dockerty for his leadership and commitment to the company and the industry as a whole while Andy Dockerty expressed pride in the company’s development over the past 40 years and emphasized John Hughes’ ability to effectively lead the company.