Smoothwall Inc is delighted to announce that the company is now under new ownership as part of a management buyout (MBO) process in conjunction with Tenzing – a highly regarded Private Equity fund.
The new management team will be led by Michael Marks, previously Group COO at Smoothwall, who has now been appointed as Group CEO. Michael will be joined by existing Board members Gavin Logan, Nicola Sharp and Terry Heath in the management of the Smoothwall business, along with Lisa Stone, who was introduced to Smoothwall by Tenzing and takes the position as Chairperson.
The new shareholders are excited and committed to continue trading under the Smoothwall name, along with retaining and growing our existing relationships with customers. The management team are putting plans together to bring new products and innovation to market more quickly, aligned with the needs of our customers.
Michael Marks comments on the exciting news for Smoothwall: “As I take the position of Group CEO, I am delighted to have the opportunity to lead Smoothwall into a new chapter, one where we are able to respond more rapidly to market demands and become a truly agile and innovative organisation. The backing of Tenzing allows us to give greater focus to our ongoing strategy, one that supports the needs of our customers and enhances the proposition we have to offer.”
Smoothwall Inc. continues to operate out of its office in Charlotte, North Carolina, with its head office based in Leeds, West Yorkshire and technical centre in Fareham, UK.