Tue, 21 Jan 2020 | MBO/MBI
Newcastle-based market research company Explain Market Research has undergone a management buyout (MBO) lead by Managing Director Kim Davis.
The MBO saw co-founder David Shiel sell his 75 per cent shareholding stake. Davis’ buyout team also included Research Directors Emma Hopkins and Rebecca Crinson as well as Commercial Director Holly Shiel-Redfern.
Explain Market Research was founded in 1993 by David Shiel and his wife Gillian. It currently employs 70 staff across its head office and research centre in central Newcastle.
Having recently celebrated 25 years in business, the company has become a big part of the UK research sector, working with clients across the country, covering sectors including utilities, healthcare, higher education and finance.
It particularly specialises in regulatory research as well as providing solutions in the finance, retail and social housing sector.
The financial details of the MBO were not disclosed, but the buyout follows a year in which the company has secured a string of fresh contracts and reported year on year growth.
The MBO was facilitated by RMT Accountants non-executive Director Stephen Slater. The buyout team was represented by Anna McGill, partner at law firm Gordon Brown, while Ward Hadaway partner Imogen Holland represented David and Gillian Shiel.
Kim Davis has been with Explain Market Research since 1999 and went on to become a key figure in the company’s nationwide growth and development, before being named Managing Director in 2012.
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