Successful market research agency, Explain Market Research has undergone a management buyout, in which David Shiel, founder, sold his controlling 75% shareholding stake.
The North East agency, who deliver projects throughout the UK recently celebrated its 25th year in business. The company was founded by David and his wife Gillian in 1993 and became an important part of the utility and regulated 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 is currently one of the UK’s leading experts in utility and healthcare market research, as well as providing solutions in the finance, retail and the 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 at their head office in Newcastle. Kim was appointed MD in 2012 and has led the buyout team of Emma Hopkins Research Director, Rebecca Crinson Research Director and Holly Shiel-Redfern Commercial Director.
Explains non-executive Director Stephen Slater of Accountants RMT in Gosforth facilitated the MBO with Anna McGill of Gordon Brown Law firm representing the buyout team and Imogen Holland of Ward Hadaway representing David and Gillian.
To find out more about Explain Market Research visit www.explainresearch.co.uk or contact the team on 0191 261 5261 firstname.lastname@example.org