Directorbank, which claims to be the UK's leading provider of directors to private equity backed buyouts, has completed a £4.3 million secondary buyout of its own.
Directorbank, which has offices in London and Leeds as well as regional presence in the North West, Midlands and Scotland, is retained by over 50 private equity houses, including leading international firms such as KKR, Warburg Pincus, Candover and Permira and provides online access to the CVs of around 2,500 chairmen, CEO's and finance directors, all of whom are said to be immediately available.
It has developed what it claims is "a unique position as an instant source of top managers who are able to advise on target companies and sectors and join them once a deal is concluded".
Its own deal was backed by Nova Capital Management.
Elizabeth Jackson, who led it, moves into the role of chief executive and John Pearce, head of the company's finance director division, joins the board.
Jonathan Hick, who founded the business in 1998, aims to pursue other business interests on a part-time basis, but remains as a director and shareholder of the company.
Sarah Grunewald, who has built up Directorbank's public company non-executive director division over the last few years, steps down from the board but remains a consultant to the company.
Simon Smith, a director of Nova Capital Management, which acquired a significant stake in Directorbank in April through its takeover of Springboard, which invested in the company in 1999, said: "When we bought Springboard, Directorbank was clearly one of the jewels in their portfolio.
"The company has strong market awareness and an excellent reputation, but it is still a relatively unexploited brand. We see potential for growth across all areas of operation, particularly in the quoted company market, greater exposure with venture capitalists and the further development of the London office."
Ms Jackson said: "It's been another fantastic year of growth in sales and profitability at Directorbank and this restructuring provides a strong platform for growth over the next three years.
"We have developed a much respected brand, moving in the highest echelons of British boardrooms. Our challenge is to build further on this and Nova's backing will give us the momentum to do so."
Sarah Jane Rees, who heads up Directorbank's Midlands operations, said: "This deal represents a tremendous opportunity for Directorbank to capitalise on the growth it has experienced in recent years."