Executives Online undergoes MBO
RECRUITMENT company Executives Online, which has an office in Yorkshire and clients across the region, has seen its senior management team complete a management buyout of the company.
The MBO team has acquired a 56% interest from the majority shareholder and founder, Norrie Johnston, his wife Mary Johnston, former chairman Ron Brender and others, through a funding package from NatWest.
Executives Online has offices locations including London, Winchester, Manchester, Glasgow, Darlington and Newcastle. The firm, which also has overseas offices in Sydney and Paris, provides executive recruitment for permanent, interim management and project management roles.
The MBO team includes managing director Anne Beitel; James O’Brien, franchise director; and Derek Ward, director of Executives Online North.
Ms Beitel said: “This is an important milestone in the development of our business and the new structure will allow us to operate more effectively in the future. We are grateful to NatWest, which has worked closely with the management team to understand our business objectives and has tailored funding packages according to our needs.”
Mr Ward said: “Despite the uncertain economic climate 2008 has been a great year for us. The need for interim managers keeps on rising, especially for assignments involving turnaround, change management and business transformation.
“This MBO enables us to provide an even better service at a time when our clients are likely to need additional support.”
Executives Online has a ‘Global Talent Bank’ of more than 50,000 candidates seeking permanent roles or operating as interim managers, project managers or change management professionals.
