Management buy-out sees Chilli and 4am depart the Principles group
Yorkshire design agencies 4am and Chilli have been acquired together in a management buyout but will continue to trade independently.
The management buyout team comprises of 4am managing director Andy Heap and Chilli managing director David Whittle, who have acquired the agencies from marketing and communications group, Principles, for an undisclosed sum.
4am was established in 1994 and Chilli in 1997. Now, the Leeds-based agencies will keep their independence under the umbrella of new company, Narrabeen Communications, with Heap and Whittle as joint managing partners. Whittle said the two had been working towards the buyout for “some time.”
Chilli’s sister Australian agency Relax, which was founded in 2005, has also concluded a management buyout. Chris Bowyer, its Sydney-based creative director has become the majority shareholder with Whittle and Heap retaining an interest in the agency as well as remaining as directors.
The two agencies combined client list includes Woolmark, Movcitie\'s, Symphony Group, Wedgwood, Lakeland, and Slumberland beds.
Whittle said: “This deal will provide us with even more energy and will help us continue to offer outstanding support to some of Britain’s best known brands.”
He added that maintaining Chilli and 4am’s relationship with the Australian agency made them “proud to be a part of business life in both Leeds and Sydney.”
Previous to his role at Chilli, Whittle was marketing services director of former Leeds-based agency, Charles Walls Group, where he spent five years.