GI Solutions Group has completed a multi-million pound management buyout of the firm to support the continued growth of the business as a marketing services provider.
The changes have resulted in the management team taking a controlling interest in the Leicester-based business from investment firm Grove Industries, although individuals from the latter will also be shareholders.
It is the second MBO the company has undergone; former chief executive Robin Welch led a buyout in 1997 and brought Grove on board a year later.
As part of the move, GI Solutions managing director Alistair Ezzy and GI Red managing director Darren Crawford have joined the board, alongside Andy Wood, who remains managing director of GI Insight and group finance director Simon Lisser. Robin Welch continues as executive chairman.
The main focus will be on strengthening the core value the group brings to customers under the banner of “data, create, communicate”.
Group chief executive Patrick Headley said: “GI Solutions Group delivers excellent customer value for online and offline data insight, creative ideas and multichannel communication. We will build on that strength to deepen our relationships and continue to put customers at the heart of our business.”
The deal has been backed by Lloyds Bank; GI Solutions has a turnover of about £30m.
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