Senior executives of the Axis Group, led by group chief executive Jonathan Levine, have completed a management buyout (MBO) of the business from the private equity firm, Sovereign Capital.
Levine, along with Simon Giles, the group finance director, David Mundell, the managing director of Axis Security, and group chairman, Roger Burdett, will now wholly own and manage the business. The business also includes its cleaning and support services company, specialist front-of-house division Acuity, and Astute, its training and consultancy business.
Jonathan Levine and his team have grown the company to become a services group that now turns over circa £87 million, and in the last three years alone the company has grown by more than 50%.
“Sovereign has been incredibly supportive throughout, and an MBO is a 'win win' for all concerned, especially our clients who have the certainty of our commitment as a senior and experienced management team with a proven track record,” said Levine. “It is an excellent time to be leading a strong and successful group, and we continue to invest for the future. There is a strong market for both security and cleaning services and we have a dedicated management team that is now capable of taking the group to the next stage in its development. With the support of our clients, and our highly talented colleagues, we will continue to build on our quality service that is proven and credited to be 'best in class',” he concludes.