Concilium Search in management buy-out

International life sciences, industrials, IT and management consulting recruiter Concilium Search has bought out its original investor, Networkers International.

A statement released this week reveals Concilium is now principally and independently owned by directors Maduka Okeke, Richard Ogbogbo and Richard Walker-Taylor, with the trio buying out the Gattaca company following a 12-month period of negotiation. A share buy-back deal was agreed after an evaluation of the business by international accountancy firm Mazars.

Okeke, CEO at Concilium Search, has now officially assumed the role of chairman at the company, increasing his shareholding while creating options for members of the board and all partners.

The buyout follows a year in which the firm opened a New York office in 2018, boosting global average monthly sales by 30%, and launched its Amsterdam office, which has succeeded in increasing European sales by 35%.

Commenting on the deal, Okeke said: “At the inception of the business there were many motivated investors that wanted to be part of Concilium Search and, in the end, I agreed a deal with Networkers International, due to their track record in recruitment across the globe.

“Our relationship has been highly successful, and we have grown and achieved many of our ambitions, as has been demonstrated by the launch of our New York and Amsterdam offices in 2018.

“However, my vision was to ultimately move share ownership towards those who were part of the business at the start and others who have subsequently joined and helped it grow. Now all share ownership is with the people intrinsic to the ongoing growth of the business. I am excited about the future for Concilium Search and look forward to seeing the business achieve our planned profitability targets and growth forecast.”

Okeke added: “The increased majority shareholding means that the business can continue to move forward on a platform of sustainable growth that is now completely determined and designed by its senior management team, partners and employees.”

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