Newcastle firm looking at global expansion

Aug 25 2009 by Iain Laing, The Journal

A NORTH EAST business consultancy is looking to open offices around the world after being bought out by its directors.

Newcastle firm Wood Holmes has seen joint founder and chairman Alan Holmes leave after a management buy-out (MBO) in which directors Stuart Smith and Leigh Sear become majority shareholders.

The pair, along with Aiden Regan, Craig Rose and Mr Holmes’s wife Jacki, are now looking to extend the reach of the business and have set up an office in Singapore to take advantage of the growing Far East economy.

The firm, which is looking to open an office in Qatar, focuses on start-ups, community regeneration, sustainability and knowledge management, and employs 17 staff at its offices in Newcastle, Manchester, London and Singapore.

It is now looking to increase its workforce and add £500,000 to its £1.5m turnover by 2011 by opening offices across the UK as well as investing in its current sites.

The firm, set up 20 years ago by Mr and Mrs Holmes, counts Newcastle and Durham Universities among its clients. It believes there are many opportunities in the consultancy market, with companies looking to industry experts to help them through the recession.

Mr Holmes said: “For some time now, we’ve been thinking about, and planning for, succession at Wood Holmes.

“Over recent years we’ve built up an excellent team of people who have enabled us to transform the business into a serious player in the strategy consultancy arena, and they have contributed massively to our success.

“I’m delighted to have agreed an MBO for the entire business that will see the company we began 20 years ago grow and move forward.”

Despite losing Mr Holmes at the helm, the firm still has strong expertise. Mr Sear worked at Durham Business School at Durham University for eight years and Mr Smith spent many years with communications company ntl and environmental consultancy Entec.

Mr Rose is also working to create an artificial reef off the coast of Whitley Bay, North Tyneside, which could boost the developing surfing and diving markets as well as doubling as a fisheries nursery and protective coastal barrier against climate change sea level rises and storm surges.

Mr Sear said: “We have a wide range of experience which is in demand by a great many businesses, especially at this time.

“There are challenges as more consultancies are being set up in direct competition with us. However, we have an established foothold in a number of markets and believe we can hit our growth targets despite the problems affecting the wider economy.”