Leeds-based executive search firm Mackenzie Stuart announced that it has been acquired in a management buyout.

Mackenzie Stuart Group's current executive team of Dominic Paglia and Nick Jenkins purchased the business from its major shareholders.

Paglia and Jenkins purchased an additional 46% equity from the other shareholders to now own 74% of the business.

According to Inside Media, since taking over the leadership of the business in 2010, Paglia and Jenkins have grown the group from 17 consultants and £1.5 million in revenue to more than 200 consultants and a projected £23 million in revenue in 2019.

The company has offices across the UK and internationally, making placements in executive level roles, 90% of which are overseas. The group currently encompasses eight separate search businesses.

Further financial details of the transaction were not disclosed.