Gencom Technology Limited has announced the completion of a Management Buyout process under which sales director Keith Bremner and managing director David Barnard have acquired 100% of shares in the company from previous owner, Darren Frearson.
Broadcast Industry veteran Frearson, acquired the Gencom Technology group of companies in 2013 and was CEO until 2015 before stepping back.
“David and Keith have done a fantastic job of running the New Zealand business and I am happy to be leaving the company in safe hands,” said Frearson. "I enjoyed my time with the Gencom team and will be sorry to leave such a talented and dedicated group of people.” When questioned about the future, Frearson said, “I’m not planning on retiring just yet, but I will certainly be slowing down a little, whilst continuing to invest in new and exciting opportunities inour industry."
According to Barnard, “Darren has been a fantastic leader over the last five years, steering the company through some challenging times whilst expanding our scope of expertise, including into the RF space with the integration of another of his New Zealand companies, The Bridge Networks, in 2016." Bremner added, “Darren’s energy, enthusiasm and entrepreneurial spirit has been an inspiration to us, and we are grateful for the opportunity to take the company into its next phase of development.With the rapid technology and business changes occurring in the media industry, Gencom needs to continue evolving and expanding its scope of technical expertise and consultancy services.We are looking forward to setting Gencom on a course for its next 50 years.”
Media Technology Pacific (MTP), New Zealand’s only broadcast and media conference, also forms part of this part of the transaction. MTP was solely owned by Frearson and has quickly become a must-attend event for the industry in New Zealand. Barnard and Bremner will continue to produce this event in the future.