Mon, 06 Jan 2020 | MBO/MBI
Warrington-based marketing company QBase has undergone a management buyout (MBO), led by its Chief Executive Rob Jones.
QBase founders Ian and Anita Johnstone have sold a majority stake of 77.8 per cent in the company to the MBO team, which includes operations director Tracey Barker, technical solutions director Nick Kelly and consulting director Paresh Patel, in addition to Rob Jones.
The Johnstones will remain minority shareholders and retain their seats on QBase’s board.
The new owners have immediately targeted expansion, with the aim of growing the company by 20 per cent annually, to reach turnover of £10 million by 2025.
Rob Jones said: “The data services market is growing rapidly as companies realise its potential and value as a business asset and QBase is in a strong position to take advantage of the opportunities the market currently provides.”
“The aim of the management team, and all of QBase’s staff, is to continue to grow on our current trajectory by building stronger and broader partnerships with data technology providers to deliver services across broad markets, including manufacturing and retail.”
Following the buyout, co-founder Anita Johnstone said: “The management team at QBase has helped to develop the company into the high-growth business it is today.
“Collectively, all four have worked for the business for nearly 60 years and we’re confident that we leave QBase in strong hands, poised for future growth.
“We’re retaining a minority stake as testament to the trust we have in the team to continue to develop the company.”
QBase supplies data services to a range of clients including HSBC, Arriva, Great Ormond Street Hospital Charity, WWF and Everton Football Club.
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