As GAK approaches it’s 30 year anniversary Co-Managing Directors Max McKellar and Ian Stephens are pleased to announce the completion of their management buyout of the business Financed and backed by Risk Capitol Partners (RCP).
Over the past 10 years, founder and current CEO Gary Marshall has been gradually stepping back from the business and after Max and Ian took over as joint MDs in 2016 the day-to-day running has been in their hands. Since then revenue has increased by over 50% with sales on track to exceed £40m in this Financial year. Gary will assist and advise the management team in a consulting capacity and will retain a stake in the business.
Max has been with the company for almost 28 years and Ian joined in 2009 after working for several years with other retailers in the industry. The joint MDs will continue to run the business being closely supported by Dean Spencer Technical Director, Ian Lake Operations Director, Kim Faulkner Financial Controller, and the 70 strong staff. Luke Johnson of RCP joins the Board as Chairman.
Max and Ian jointly commented:
“We are extremely excited about working with RCP on the next phase of GAKs evolution both as a company and a recognizable and trusted brand. We are fortunate to have an exceptional workforce and to be supported by our highly experienced and talented senior management team who will collectively continue to help us implement the many growth initiatives we have identified.
Both GAK and our industry as a whole have encountered and overcome many significant hurdles in the past few years and we feel we are now perfectly placed to push the business forwards and take advantage of the opportunities we see ahead of us in the short and long term.”