Independent media agency The Specialist Works has completed a management buyout after the firm’s management team, led by chief executive officer Martin Woolley and chief operating officer Parry Jones, bought out founder Jim Lewcock for an undisclosed sum.
The new owners have announced a cash bonus for all non-director staff and opened up a future business growth bonus scheme worth £2.5m.
In a statement, Woolley said: “The Specialist Works has grown through its independent spirit and laser-like focus on meeting the needs of our clients. Parry and I are backing our brilliant and committed teams to make The Specialist Works the agency for high-growth brands, worldwide.”
The agency, founded on London’s Brick Lane, now employs more than 200 staff and operates across 40 countries. Founder Lewcock said: “From a single desk on Brick Lane to desks from Beijing to LA, it’s been an epic journey. Many of us have grown up together at The Specialist Works. I’ll miss the folks dearly and look forward to watching the continued wondrous growth.”
The Specialist Works was crowned Media Agency of the Year at The Drum Network Awards in 2015 and 2017.