Meridian Completes MBO06 Aug, 20152 minutes
Meridian Business Support is pleased to confirm the completion of a Management Buyout and th...
Meridian Business Support is pleased to confirm the completion of a Management Buyout and the appointment of 11 new shareholders from the Meridian Senior Leadership Team.
The MBO was led by Meridian's CEO, Derek Skelton, and Finance Director, Jeanette Barrowcliffe, following Meridian's outstanding performance over the last five years. In particularly, Meridian has thrived in the challenging socio-political climate and had a turnover exceeding £100 million in 2021. About the deal, Meridian's founder, Rod Kavanagh commented:
"Meridian's exceptional performance over the last few years has proved that the company is in very capable hands. I am confident in this decision and know that the future of Meridian will be bright."
Meridian's new shareholders would like to thank Rod for his dedication to the business for over 32 years.
The completion of the deal led the Meridian Senior Leadership Team to invite an additional 100 of its team to take shareholder options, as part of an EMI scheme - a rarity within the recruitment industry - to ensure that the company's future is in the hands of those who have contributed to our recent successes.
Commenting on plans for the future, Derek Skelton said:
"This seamless deal represents an exciting new chapter for Meridian. We have a world-class culture, as demonstrated in our 2022 Best Companies 3-star accreditation, and the move to include more employees as shareholders and share option holders will only strengthen this as we work together to identify new opportunities and developments for our future.
We will continue to work closely with our clients, suppliers, and candidates, and guarantee that they will always receive the same high standards of services that they expect."
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