PR agency Blue Rubicon sells majority stake to private equity firm LDC
London-based PR agency Blue Rubicon has sold a 'significant' stake in its business to private equity firm LDC.
It is understood that LDC has taken a majority stake in the company and that the deal values the business in the region of £30m - although no terms have been officially disclosed.
Blue Rubicon was advised on the deal by Results International, which said that the investment would fuel the firm's ambitious expansion plans including overseas growth.
"The next chapter for the company will be driven by further internationalisation of Blue Rubicon’s core reputation management expertise, building its new strategic consulting and consumer offerings and innovating in digital," said Jim Houghton, partner at Results International.
"Having LDC alongside will allow the company access to the significant new funding that will accelerate these growth plans whilst, crucially, also allowing the company to stay true to its values and culture as an independent."
Blue Rubicon was founded in 1999 by Fraser Hardie, who has said that his ambition for the company is to become "the defining agency" of its generation. Its clients include McDonald’s, Coca-Cola and Facebook.
As part of the deal Alastair Gornall, previously chief executive of Reed Exhibitions, has been appointed as non-executive chairman.