The deal provides an exit for founding partners Robert Scott Moncrieff and Simon Cleaver and former chairman Colin Lloyd.
They have sold their shares to a team consisting of managing director Charles Boliston, executive chairman Peter Webb and finance director David Moody.
The amount paid for the 15-year-old company was not disclosed.
Boliston said: "We are delighted to have achieved this milestone in the company's development. We part as friends with our external shareholders, but the future of the business is now entirely in the hands of the working directors and we have ambitious plans for growth next year and beyond."
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