Directorbank, a provider of non-executive directors to quoted companies, and directors to private equity-backed buyouts, has undergone a £4.3m secondary buyout of its own. Private equity firm Nova Capital Management backed the deal.

Directorbank, which has offices in London and Leeds, is retained by more than 50 private equity houses, including Candover and Permira. It provides online access to the CVs of about 2,500 chairman, chief executive officers and finance directors.

Elizabeth Jackson, who led the deal, replaces Jonathan Hick as chief executive at Directorbank. Hick founded the business in 1998. He will remain director, but will only work part-time at the firm.

Venture capital firm Springboard acquired a 40% stake in the firm in 1999. Springboard was listed on the Alternative Investment Market until earlier this year, when it was taken over by Nova.

As a result of the latest deal, Nova will own 62.5% of the company, with the buy-out team owning the remainder. Hick's personal stake goes down slightly.

Hick told Recruiter he would work about 40 days a year at the company. "It's the ambassador-type role, and sales I enjoy most," he said.

Among the directors the firm has placed is Gita North, who took up a non-exec position at Center Parcs.