Managing director Mark Elliott said of the strategic decision to operate as a single entity: "Being able to centralize all our resources into a single building has enabled us to further develop full service capability to provide a wide range of resources. This includes video, lighting, audio, and staging equipment, together with our ever-increasing range of indoor and outdoor LED screens."
A substantial upgrade to CT's hire fleet will see heavy investment, with the company intensifying its already strong international partnerships with both Vista Systems and Barco. New investment includes three state-of-the-art Vista Montage processors, allowing CT to expand on its already advanced multi-image capability, as well as 200m of Barco Dlite, seven LED daylight displays and MiPIX modular intelligent LED pixel blocks.
Meanwhile, Avesco plc, the parent company of CT, is to apply for admission to the Alternative Investment Market (AIM) and cancel its listing on the UKLA Official List. The company is also considering demerging its Core Services from its two investments - the 49% holding in Complete Communications and 23.7% holding in Medal Entertainment and Media plc.
The move is designed to simplify the ongoing administration and reporting requirements for Avesco as a public company. The lower compliance costs of AIM should enable Avesco to develop its business by acquisition more cost-effectively than as a fully-listed group. Avesco chief executive David Nicholson told us: "This is great news for both companies. We have so many opportunities ahead of us to develop our audio-visual and broadcast hire businesses, which we would be able to do so much more effectively if separated from our investment holdings."
