Management buyout for Ci Research

UK-- Ci Research has new owners after a five-strong team completed a management buyout of the business.

Led by managing director Ian Font, the new owners include directors Colin Auton, Andy Wright, Richard Walker and Katie Waterhouse.

Ci, which works with private and public sector clients, demerged from its sister company J4B earlier in the year.

J4B originally grew out of the technology team of Ci to become a builder of large online databases. It was quoted on the PLUS market as J4B plc, with Ci reversed into it.

The group delisted last year, ahead of the split, and J4B has since been sold to AIM-listed software company Idox for £800,000.

Font said Ci had also attracted interest from outside investors following the demerger, but the MBO proposal eventually triumphed.

“The buyout represents the beginning of an exciting new chapter for Ci Research,” he said. “The people who are building Ci Research's reputation now have the opportunity to share in its future success. And by being free of the reins which come with being part of a public limited company, we will now be able to react even more quickly to market opportunities and make quicker investment decisions.”

Ci employs 30 people and has annual turnover of £2m. It works with clients in the financial services, retail and chemicals industries, as well as business support, regional development agencies, healthcare, and education, learning and skills providers.

Author: Brian Tarran

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