Joe Saxton, who set up NfpSynergy 20 years ago, said he would be handing over management of the firm to Cian Murphy (pictured left) and Tim Harrison-Byrne (right) following the sale.

There will be no immediate changes to the structure or branding of NfpSynergy following the sale, and the strategic direction of the company will be consulted on internally with further announcements expected in the new year.  

As part of the sale, Saxton will change his job title from driver of ideas to driver of ideas (emeritus), and said he wanted to focus more on writing rather than day-to-day management.

Murphy and Harrison-Byrne will retain their titles of co-managing directors following the acquisition.

NfpSynergy is an independent market research company specialising in not-for-profit organisations and trends across the UK charity sector.

Saxton said: “I am delighted because after 20 years of thinking about paying salaries, finding new business, covering costs, and recruiting great staff, I will be handing that privilege and challenge over to someone else.

“I am not leaving the company for a while. I will continue working on projects and doing research with the company for a year or two more. It has been a privilege to work with so many amazing people and organisations, and I hope to go on for a while longer.”