News / transaction
Bristol marketing agency undergoes management buyout
One of the South West’s largest and longest-established marketing and communication agencies has undergone a management buyout.
Following the retirement of founder Roger Proctor after 44 years at the helm, Proctor + Stevenson will now be owned and managed by a leadership team of long-standing directors.
The award-winning agency, which specialises in business-to-business marketing and is based at the Old Printworks in Easton, has a workforce of 60 people and revenue of £6m.
Proctor + Stevenson says the transition to management ownership “underlines a commitment to continuity and progression from within”. Those on the board have almost 90 years’ experience at the company between them.
They are Ailsa Billington, managing director; Dan Hardaker, director of digital design; Steve King, director of technology; Phil Robinson, creative director; and Nikki Hunt, finance director.
Billington commented: “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.
“Our of our key goals is to continue Roger’s legacy of innovation, with a number of new service launches in the coming year.”
Proctor + Stevenson’s customers include Panasonic, Rathbones, Daikin, Pure Cremation and the UK Hydrographic Office.
It has substantial growth in recent years, growing by more than 22 per cent in the past financial year alone.
It operates globally – including in North America, Asia and the Middle East – with operations in the Gulf Region contributing to 25 per cent of overall revenue.
The new team will continue many of the CSR commitments Roger spearheaded, including allocating a percentage of the turnover to pro bono support for local charities, and delivering the South West Design + Digital Student Awards.
Proctor + Stevenson has also developed a new MarTech solution to enable businesses to gather insights into consumer behaviour, optimise targeting and build data-driven marketing strategies.
Funding for the transaction was provided by HSBC and legal advice was given by Michael Clarke and Richard Hopkins at Roxburgh Milkins.
Main photo: Proctor + Stevenson
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