International executive search firm GRS announced an equity backed management buy-out, today. Penta Capital backed the move, providing £18m of funding for the transaction.

Ken Brotherston, chief executive of GRS, is leading the buy-out team who will hold controlling interest in the company.

“The company already has a fantastic management team, a proven track record, and an outstanding client list. Penta recognises the huge strengths of the GRS business model and its resilience in the current economic climate. We have the financial firepower to think about acquisitions, once the dust settles on the purchase,” said Brotherston.

The team has bought the company from Richard Paisley and Dan Chester, who will retain a minority share. 

The new board will include Ken Brotherston, Mark Webster, finance director, and Mark Phillips, a partner at Penta. 

GRS specialises in providing staff to risk legal and interim management, tax, operating from seven offices based in Hong Kong, London, Munich, New York, Paris and Zurich.