The agricultural market research company Kynetec has been relaunched, following the successful completion of the management buyout of the Animal and Crop Health division from its parent company, the German market research business GfK.
The MBO by the current management team, led by managing director Stephen Hearn and backed by the private equity fund Inflexion, was agreed in November 2015. As an employee-owned company, Kynetec says it will support its customers through continuing to invest in top market research talent, as well as in innovation, new product development, acquisitions and joint ventures.
The business will continue to specialize in a deep understanding of the animal health; farm animal nutrition; fertilizer; seed and biotechnology; crop protection and farm machinery and equipment markets across 70 countries. Its global team is present in 20 countries and comprises more than 230 research professionals and 270 skilled interviewers plus a network of more than 80 partners. It will continue to collaborate with GfK in future.
“Our focus is to be an agile organization with quick decision-making skills and fast implementation of new ideas,” notes Mr Hearn. “This will translate into additional value and enhanced customer service to our client partners.
“I believe Kynetec is now perfectly organized to adapt quickly to the changes in our industry, offering our clients future-proof solutions and providing answers to their questions in a more timely and effective manner.”
The business, which had annual sales of around €30 million, has its headquarters in Newbury, Berkshire. The original Kynetec merged with Doane Market Research to form dmrkynetec in 2007. GfK bought a minority stake a year later, and acquired full ownership in 2010.