The senior management team at the business consultancy Impetus Automotive has successfully completed a management buyout of the business from the three major shareholders.
The MBO team, led by David Gorvett, chief executive, includes the existing directors Mark Dale, Dave Harriman, Andy Mills and Rob Webster, who now becomes the finance director.
To deliver the MBO, Impetus Automotive chose ISIS Equity Partners and secured the continuing support of Lloyds Bank Wholesale Banking & Markets Acquisition Finance.
Employing over 250 people across Europe and beyond, Impetus Automotive is a long established consultancy supporting vehicle manufacturers to deliver growth in volume, quality, profitability and levels of customer satisfaction.
CEO David Gorvett said: "This investment presents a marvellous opportunity for us to accelerate our plans to bring exciting and innovative products and services to market.
"We have a strong understanding of our clients’ needs and will be even better placed to support them. I’m delighted the team which has delivered the impressive growth to date, will continue to drive our company forward.
"This team has always recognised that excellent client relationships are the lifeblood of our business. I look forward to exciting times ahead."