NEWS21 January 2020

MBO for Explain Market Research

Financials News UK

UK – Newcastle-based market research agency, Explain Market Research, has undergone a management buyout, with its founder, David Shiel, selling his 75% shareholding stake.

Explain Market Research_crop

The agency – which specialises in regularity research – has recently marked 25 years in business. It was founded by Shiel and his wife Gillian Shiel in 1993.

Financial details of the MBO were not disclosed, but the announcement follows a number of new contract wins and year on year growth.

Its managing director Kim Davis – who has been with the business since 1999 –led the buyout team which included Emma Hopkins, Rebecca Crinson and Holly Shiel-Redfern.

Explain’s 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 the Shiels.