MBO for Newcastle's Explain Market Research

In Newcastle-upon-Tyne, full-service agency Explain Market Research has undergone a management buyout, with founder David Shiel selling his controlling 75% stake. Terms of the deal have not been disclosed.

Explain, which was set up in 1993 by Shiel and his wife Gillian, focuses on the utility, healthcare, finance, retail and social housing sectors, with clients across the UK. Its Trust and Confidence evaluation tool measures a range of factors that influence an individual's overall perception of a brand or organisation, and can be used by clients to benchmark themselves against the sector norm, and track this on an ongoing basis.

The management buyout was led by MD Kim Davis, and included Emma Hopkins, Research Director; Rebecca Crinson, Research Director; and Holly Shiel-Redfern, Commercial Director. Anna McGill of Gordon Brown Law firm, which represented the buyout team, commented: 'I'm delighted to have worked with the MBO team on this transaction and look forward to seeing how they take the business forward following this exciting opportunity'.

Web site: www.explainresearch.co.uk .