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Executives Online bought by management

Article Date:  Jan 15 2009

Headhunting company Executives Online has undergone a management buy-out, with senior managers acquiring a 56 per cent stake.

The deal, which was supported with debt from Natwest, was led by managing director Anne Beitel. The other members of the buy-out team are franchise director James O’Brien, regional directors Derek Ward and Andrew Nicholas, head of permanent recruitment Jonathan Corner, and financial controller Rosalind Web. Buckingham Corporate Finance advised on the transaction, of which financial details were not disclosed.

The vendors include founder Norrie Johnston, who will remain executive chairman of the business for at least two years, his wife Mary Johnston and former chairman Ron Brender.

Beitel says last year was a successful one for the firm, adding, ‘The need for interim managers keeps on rising, especially for assignments involving turnaround, change management and business transformation.’

Executives Online uses an online tool to compile a shortlist of “best-match” candidates for a particular role within a few days.

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