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Avantis Marine Praise Benefits of Good Succession Planning



A South Wales service business which helps global customers cut their energy use has seen their revenue and profits double following a management buyout in the autumn of 2022.

Avantis Marine is an energy service platform, working with companies in the oil, gas and maritime industries.

Established in 2019, the Bridgend-based company works with clients to help them cut energy use and carbon output, working with shipping firms to find clean tech, power solutions and new approaches to engineering.

In 2022, the Development Bank of Wales backed the management team at Avantis in an MBO with a seven-figure investment package. Entrepreneur Tom David took on the role of CEO, with the managers buying out former owners Envoy and Partners.

Tom said:

“I’m pleased to say we’ve performed well pre and post buyout, and we’ve doubled profitability and revenue, year-on-year, since.”

“The MBO allowed us to deliver our strategy in the way that we want, with our vision of the future in mind. And it’s given us a more equitable stake in the business as it grows internationally.

“The buyout itself did have its challenges but was really enjoyable, and the Development Bank supported us throughout. It meant we were able to buy out the former owners and have the additional working capital we needed as we looked to continue our growth. The package the Development Bank put together had a mix of equity and debt which gave us some breathing space and brought risk down when compared to conventional debt.

“Having their presence on the board gives us more strategic support as and when needed, and for a high-growth, high-performance business like us, that really is invaluable.”

Watch the supporting case study video below:

Find out more about how Development Bank of Wales can support with your MBO – Development Bank of Wales | Management Buyout 


The Development Bank of Wales funds businesses that they think will benefit Wales and its people. The ones that will create ripples of growth- those that are more than a good business model or a great idea. They finance responsible businesses – those with a strong social, ethical and environmental standards, as well as real commercial promise.

By providing sustainable, effective finance where options have seemed limited, they bring ambitions to life and fuel possibilities for people, businesses and communities in Wales and beyond.

The Development Bank’s ‘big picture’ view means it can often help with debt and equity finance when options seem limited, doing whatever it takes to make a positive difference, bringing together the right people and working collaboratively to find a way to make things happen for Welsh businesses and for Wales.

Its teams are embedded in local communities, working out of regional offices that give customers direct access to key decision-makers and signposted avenues of support. They understand what’s happening in Wales’ villages, towns and cities – the challenges and the opportunities. They see the potential for business growth as a catalyst for enhancing lives and communities in Wales and beyond.

For more information, visit the Development Bank website at to find out more.


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