A management buy-out has been completed at project management and cost consultant firm Back Group.

The deal, understood to be worth £4m, sees three directors take over from the firm’s founder David Back.

Duncan Berry, one of the three, said they planned to increase the company’s £5m turnover by a third in three years. The business made a 12.5% profit in 2004 and employs 70 people.

Berry said: “The three of us have been with the company for around ten years and we felt that growth in that time had been driven by us.”

He added that David Back had “interests elsewhere”, although he would stay on at Back as a non-executive director, advising in particular on strategy and business growth. Back owns property development company, Barteak.

The company will be renamed DBK Back to reflect the names of the new owners, who include Tim Downing and Steve Kelly. The trio will look at acquisitions to gain public sector expertise. Back has offices in Birmingham, London and Manchester.

Source

QS News