MBO completed at Intermarketing

By The Drum Team | Staff Writer

IMA

|

Management Buy Out article

December 7, 2011 | 2 min read

Intermarketing has been acquired through an MBO led by Jamie Allan, head of media and Steve Sowden, client services director (pictured).

The Recommended Agency Registered agency currently employs a team of over 50 in Leeds and works with clients such as adidas, jet2.com, La Redoute, RSA and Shop Direct.

Allan and Sowden will now become managing partners of the business, while the existing senior management team of Glenn Patterson, Chris Henry, Michael Harris, Paul Mountford and Andy Watson will remain.

Glenn Patterson, who takes on the role of chairman, commented: “After seven years of successfully running the group, myself, Chris Henry and Andy Watson felt it was the right time to pass on the responsibility of managing the company moving forward.

The management deal guarantees Intermaketing’s independence and that our loyal client base will continue to receive the agency’s high standards of creativity and service. I am looking forward to working with the senior team to take the agency to the next chapter of growth.”

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The new Intermarketing Board will consist of Patterson, Sowden and Jamie Allan as alongside new business director for liaison Chris Henry, financial director Andy Watson, group creative director Paul Mountford, and creative director Michael Harris.

The deal was facilitated by Yorkshire Bank, and advised by Paul Johnson and Simon Cuerden at Irwin Mitchell, Jonathan Simms at Clarion and the MBO team were advised by Tariq Javaid and Richard Feltham from Garbutt & Elliott’s Corporate Finance team.

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