Procurement company in shareholder buyout
London, UK, 19 January, 2010 4C Associates, a CIPS prize-winning procurement company, today announced the completion of a shareholder buyout, led by Ed Ainsworth, a founder of the company, and Danny Rosenkranz one of the original 4C investors.
Ed Ainsworth will become Managing Director and Danny Rosenkranz Chairman. The buyout includes a substantial financial injection directly into 4C.
“The shareholder buyout will ensure the secure future of 4C Associates and give us the ability to offer a flexible service model to our clients and to tailor solutions to their exact needs,” said Ed Ainsworth, Managing Director, 4C Associates. “This is an exciting time for the company. We will now have the financial strength, focus and experienced people to offer our customers excellent service and innovative solutions through our specialist procurement knowledge and expertise.”
Following Deutsche Post’s (DP-DHL) decision in 2009 to divest its stake in 4C Associates, the 4C Board ran a rigorous search to find the most suitable investor for the business. In December 2009, the decision was made for the original founding shareholders and current management team to take back control of the business, the deal being finalised on 31 December.
The bid’s chairman, Danny Rosenkranz, has worked in various organisations both as an executive and non executive including Foseco plc, 3i, Pecaso and BOC Group plc, and will be the new chairman of 4C. Johan Denekamp, is stepping down from his role as Group CEO but will continue his longstanding relationship with the company on a consultancy basis. Johan comments “It’s been a real pleasure leading the Group for the last two years and now is an ideal time for 4C’s shareholders to take on full control of the company”