International HR consultancy Cubiks has completed of the final stage of a Management Buy-Out from PA Consulting Group, which provides the company with full independence.

Cubiks’ chief executive officer Barry Spence led the first stage of the MBO in April 2004, which saw the Cubiks management team and employees acquire a majority shareholding in the company from PA.

Spence says: “Cubiks was first established with the objective of capitalising on the growing business need for assessment measures that could be delivered online. We were one of the first businesses to enter this market and have grown consistently ever since, expanding our revenue, profit, client base, portfolio and global footprint. By employing a unique team of occupational psychologists, HR consultants and IT professionals, we are able to offer clients bespoke solutions that are configured to meet their exact requirements. Our clients understand our distinct position in the market, recognise the value that we deliver for them, and commit to working with us on a long-term basis, which provides us with a very secure stream of income.”

The MBO has been funded by a loan from Bank of Scotland Corporate.