The buy-out is being led by the chief executive of the IT services company Mike Mason, who joined the business at the end of 2009.

Mason has led a number of exits in the IT and communications sector.

Frank Bulman is a partner at RJD Partners and is set to join the board of Intrinsic. He says that Mason has a ‘track record of value creation in the IT services sector’, and adds that Intrinsic sits in ‘an attractive market with excellent growth potential’.

The deal is being funded through a combination of management re-investment, equity investment, provided via funds managed by RJD, and debt facilities provided by HSBC.

Gaul will retain an equity stake in the business, according to a statement.

Mason explains that Intrinsic plans to take advantage of the ‘organic growth and acquisition opportunities presented in a dynamic but fragmented market’.

Lancashire-based Intrinsic has offices in London, Glasgow and Haydock, and employs over 125 staff.

It delivered turnover in excess of £27 million in the year to 30 November 2010.

RJD has raised over £250 million in private equity funds and typically invests between £10 million and £75 million in companies in the UK service and leisure sectors.