PLAY AV, a leading company in the audiovisual sector, will change hands on April 1, 2022. Founder and current CEO Dirk Verhellen will sell 100% of the shares through a management buyout (MBO) to brothers Vic and Bruno Hoste. Vic has been working in various positions within the management of PLAY AV since 2015. Bruno is currently working as a data scientist at Risolto. There will be a period of co-CEOship until September 1 to make the transfer as smooth as possible.
PLAY AV was founded in 1994 and has grown into an innovative full-service provider in audiovisual techniques, active in both sales and rental. In the head office in Nazareth and the branch in Zonhoven, Play AV employs 50 people. After almost 28 years, founder Dirk Verhellen thinks it's time for the next generation.
Takeover via management buy-out (MBO)
To safeguard the future of PLAY AV, a management buy-out (MBO) was the best solution for all parties. The Hoste brothers will also take over the corresponding real estate from PLAY AV: the Visitorium, audiovisual in-house studios, offices, meeting rooms and the warehouse. "With Vic we have someone on board who knows the culture and way of working at Play AV very well. I also recognise myself in Vic," continues Dirk, "He has the guts and the ambition to go all the way. Because of his passion for audiovisual techniques and his thorough technical knowledge, combined with his experience in management, I am convinced that PLAY has the right captain on board with Vic. Together with Bruno's data-driven approach and financial background they are the ideal duo to write a new chapter with Play AV.
6 months co-CEOship
To ensure stability and continuity, Dirk and Vic will have a period of co-CEOship together from 1 April 2022. Two full directors to organise the transfer as well as possible. As from September 1, Vic will then become the sole CEO of PLAY AV, assisted by Bruno as strategy and innovation manager.
Vic Hoste: "There are those opportunities that cross your path in life that you can't hesitate about. This was one of them. It is a great honour to be able to continue to lead this fantastic company. Based on my technical expertise and passion for audiovisual techniques, I will continue to disseminate the current values. In this way, I want to continue to give the employees the opportunities to develop themselves further. Just like Dirk's motivation, our ambition is to make PLAY AV a reliable and innovative partner that responds to the changing needs of our customers.”
