The firm was sold to Rcapital Partners and implemented through Vine 2023 Limited and IOM Consulting Limited. A historic research facility has been placed into administration (Image: Getty Images)The administrators said the institute was founded as a research charity in 1969 and incorporated as a limited company and registered charity in 1990. Martin Dorchester will step away from his role as chief executive of the combined group and Michelle Reid will take up the role of managing director of IOM Consulting Limited. Read More:Ms Reid said: "This investment from Rcapital provides a strong platform for the next evolution of IOM Consulting Limited. The company's registered office and head office Pentland Science Park and it operated from regional offices at Brookside Business Park, Cold Meece, Stone, and Tapton Park Innovation Centre, Chesterfield.