Manchester-based agency, CTI Digital, have completed a management buy out from its umbrella company, Paperhat - three years after joining the group.
Supported by Cowgills (corporate finance) and Brabners LLP (legal), internal management have self-funded and bought back the 54% share that previous investors, Paperhat, purchased in 2015. The 75-strong agency will now operate as an entirely independent company.
Nick Rhind, chief executive officer, CTI Digital, said: “In our fifteenth year of trading, we are confident in making decisions defined by our experience and expertise. We pride ourselves on original thinking and flexible working practices; these are values that we can best adhere to as an independent agency. With ambitious plans for growth, we are excited to be in total control of the future of the agency.”
David Beswick, managing director at CTI Digital, added: “CTI is built on continual investment in talented individuals, advancing technology and our clients’ visions; we achieve this by investing in ourselves. In order to maximise efficiency, to perform with agility, and to be in a position to accept exciting challenges, we are proud to be an independent business once again.”
The management team at CTI Digital have assured their staff, clients and partners that it will be ‘business as usual’ for the agency.