A strong future for Liberata

Following the announcement that Endless has backed the management team at Liberata, many in the sector have been curious as to Endless’ plans for the business.  Garry Wilson, Managing Partner at Endless who led the Endless team on the transaction and who has taken a Non Executive Directorship at Liberata commented that “We are very excited about the management team’s five year plan for the business.  As soon as I met Dermot Joyce and Martin Trainer I could sense their huge enthusiasm for the growth prospects.  I also learnt about the huge difference they had made to the business since joining it in 2009 after several years of difficulties at Liberata.  What struck me most was that despite having been through a tough time their primary concern was about providing a secure base for employees and customers alike.  Those principles are very closely aligned to our own here at Endless.  Harnessing the motivation and support of Liberata’s employees and customers will mean a bright future ahead.”

The transaction has seen the financial position at Liberata strengthened considerably.  For the first time in years the business has a positive balance sheet which it can be proud of and unlike many competitors has zero bank debt.  Furthermore the cash injection from Endless of over £20m has given the business substantial cash headroom.  Many employees have asked why Liberata was acquired by a Turnaround Fund and the reasons lie in the historic debts and weak balance sheet which were unsustainable.  Garry Wilson commented “Endless understood the financial restructuring that was required and that is one of the final pieces in a turnaround strategy already well advanced by the team at Liberata.  Now that the deal is done all stakeholders can look to the future with Liberata as a financially strong, independent company.  I am very much looking forward to seeing the team take the business forward for years to come.”