MBO set to take place at The Bridge
The Drum understands that an MBO deal is very close to being completed at Glasgow based advertising agency The Bridge.
It is thought that the deal follows a lengthy process of talks but that it is being led by deputy managing director David Watson and account director Alan Clarke.
It is believed that the deal will see Brian Crook, managing director and Jonathan d’Aguilar, creative director walk away from the agency, while Liz O’Connor, who left acrimoniously in the Autumn of 2006 is also likely to receive a payout.
All three were involved in an MBO deal themselves in 1996 with d’Aguilar and Crook taking 40% of the business and O’Connor taking 20% in a deal which apparently cost between £200,000 and £500,000.
No word has come out on the value of the current deal although speculation is that it will not reach the value of the previous buyout.
At the time of writing no one from The Bridge was available for comment.