Management buyout for Newcastle market research company
Market research agency Explain Market Research has undergone a management buyout in which founder David Shiel sold his 75% shareholding stake.
Explain Market Research employs 70 staff across their central Newcastle head office and research centre, located on Leazes Park Road and is an expert company in delivering insight across a range of sectors including utilities, healthcare, higher education and finance.
The North East agency who deliver projects throughout the UK recently celebrated its 25th year in business and was founded by David and his wife Gillian in 1993 where it quickly became an important part of the research sector with clients across the UK.
The announcement comes on the back of a string of new contract wins and year on year growth. The company specialises in regulatory research and provides solutions in the finance, retail and social housing sector with a national portfolio of clients spanning from Fort William to Guernsey.
David recruited Kim Davis in 1999 and she went on to become a key figure as the team developed nationally and grew to a staff of over 60 based in their head office in Newcastle. Kim was appointed managing director in 2012 and has led the buyout team of Emma Hopkins, Rebecca Crinson and Holly Shiel-Redfern.
Non-executive Director Stephen Slater of Accountants RMT in Gosforth facilitated the management buyout with Anna McGill of Gordon Brown law firm representing the buyout team and Imogen Holland of Ward Hadaway representing David and Gillian.
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