PC Retail Award winner, Stone Group has gone undergone its second management buyout in three years aimed at financing further organic growth.
The Staffordshire-based company has said that it expects the money raised through the MBO, which was funded by private equity group RJD Partners, to help it continue to grow and expand organically in the education market.
The firm currently employs around 200 staff and was voted the UK's best VAR by the channel at the recent PC Retail Awards. The firm's chief executive James Bird is expected to retain his position after completion of the MBO.
Speaking about the deal to CRN's Sara Yirrell, RJD Partners' spokeswoman Jill Williams said: "Stone is one of the UK's leading independent suppliers of IT hardware to the public sector, with a strong reputation for service.
"We are excited to have the opportunity to work with the management team to continue to build on their success to date," she added.
Commenting, Bird said: "This transaction is designed to provide Stone with the right shareholder base to allow us to continue with our strategy of organic growth, through continued focus on customer requirements and provision of a comprehensive, first class service to satisfy these, together with selective acquisitions where these complement and enhance our existing business."