A South West marketing and communications agency has undergone a management buyout (MBO).
Bristol-based Proctor + Stevenson is an award-winning agency, specialising in business-to-business marketing. It has a workforce of 60 people and a revenue of £6m.
The agency was established by Roger Proctor MBE in 1979 who, after 44 years at the helm, is retiring.
The company will now be owned and managed by a leadership team of longstanding directors, comprising Ailsa Billington, managing director, Dan Hardaker, director of digital design, Steve King, director of technology, Phil Robinson, creative director, and Nikki Hunt, finance director.
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Ms Billington, managing director, said: “The new board members have all risen through the ranks as employees, which is testament to our culture of reward and recognition. We believe in providing opportunities for team members across the lifetime of their careers.
“One of our key goals is to continue Roger’s legacy of innovation, with a number of new service launches in the coming year.”
The company, whose customers include Panasonic, Rathbones, Daikin, Pure Cremation and the UK Hydrographic Office, has grown in recent years, and in the past financial year grew by over 22%. The agency’s global footprint has also expanded, particularly in North America, Asia and the Middle East. Today, operations in the Gulf Region contribute 25% of overall revenue.
The company is awaiting final certification for B Corp status, with projects such as making education accessible to women in the Middle East a key part of its social governance strategy, alongside a commitment to the South West Net Zero strategy.
Proctor + Stevenson will continue to allocate a percentage of its turnover to pro bono support for local charities including charities such as Caring in Bristol, Housing Matters, and Bristol Business Beats Cancer.
It will also continue to deliver the South West Design + Digital Student Awards, an initiative Mr Proctor set up as part of an ongoing campaign to tackle the way institutions approach design education, opening doors for the next generation of design talent.
Funding for the transaction was provided by HSBC and legal advice was given by Michael Clarke and Richard Hopkins at Roxburgh Milkins.
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