London-headquartered recruitment firm Concilium Search announced that it has bought out its original investor Networkers International.

Concilium specialises in life sciences, industrials, IT and management consulting recruitment. The company is now principally and independently owned by directors Maduka Okeke, Richard Ogbogbo and Richard Walker-Taylor who bought out Networkers International (part of Gattaca), following a 12-month period of negotiation. A share buy-back deal was agreed after a comprehensive evaluation of the business by international accountancy firm Mazars.

Okeke, CEO at Concilium Search, has now officially assumed the role of chairman at the company, increasing his shareholding while creating options for members of the board and all partners.

Further financial details of the management buy-out were not disclosed.

Concilium increased its turnover by 55% from £7.50 million in 2017 to £11.62 million in 2018 and is forecast to double its turnover again to over £19 million this year. The business now employs more than 50 people and services clients in over 40 countries across the globe.

“Now all share ownership is with the people intrinsic to the ongoing growth of the business. I am excited about the future for Concilium Search and look forward to seeing the business achieve our planned profitability targets and growth forecast,” Okeke said.

“The increased majority shareholding means that the business can continue to move forward on a platform of sustainable growth that is now completely determined and designed by its senior management team, partners and employees, Okeke said.