Expand Group has successfully completed a management buyout (MBO) that will enable it to capture new growth and diversify its customer base. The management including directors Lee Walker, Richard Edwards and Aidan Walker acquired 100 per cent equity in the Expand Group from group managing director, Samantha Maxwell-Reed. Maxwell-Reed will maintain her role within organisation and join the Expand Group’s newly formed board of directors.
Under its new leadership, Expand Group who specialise in the communication, digital and technology industries, will increase its existing market share within its telecoms, digital media, cyber security and FinTech sectors. The MBO will accelerate the creation of new teams, diversity in its existing products, and extend its reach to more global business partners.
“This deal is a significant milestone for Expand. We already have plans in place to enable further innovation within our existing sectors and this will allow us to continue to offer a high level of service to our clients,” said Richard Edwards, director at Expand Group. “Through the buyout, we will be able to assist start-ups in scaling from Europe into the US and vice versa. The MBO represents a new chapter for the brand, and we are excited to see where this year will take us.”
Expand Group completed the buyout internally rather than through outside investment to allow the business to focus on business scalability and continuity. The decision for the MBO follows significant periods of sustained growth and profitability for the company, despite the impact of COVID-19 in 2020.
“The team we have in place is amazing and forms the heartbeat of the business. This is why we believe that we have made the best decision to help Expand thrive as we move forward,” said Lee Walker, director at Expand Group. “Despite the challenges we’ve faced in 2020, they performed above and beyond expectations and Richard, Aidan and I have absolute belief that we can deliver Expand’s goal of continuing to provide an incredible service level.”
Since its launch in 1999, Expand’s goal has been to provide an outstanding record of delivery for interim and permanent appointments. Its services ensure successful integration of new hires, reducing time to performance and improving new employee engagement.
“The completion of the MBO enables Expand to grow through a team that has first-hand experience of its clients and offerings,” said Aidan Walker, director at Expand Group. “The legacy that Sam leaves behind is truly impressive. She has created a brilliant platform for growth, and we can’t thank her enough for everything she’s done. She will always be part of the Expand family.”