S3 Advertising has been acquired by its senior management team for an undisclosed fee, a move which has seen the departure of founder and chief executive Matt Jones.
Commercial director, Mike Webb; senior client account director, Rebecca Campbell; HR director, Mel Matthews and finance director, Louise Evans have acquired the business from Jones, in a deal part-funded by SME investment specialists Caple.
S3 Advertising, which counts University of South Wales, Airbus, NHS Wales, and Deliveroo among its clients, recently reported an increase in annual turnover from £4.43m between 2016-17 to £6.6m between 2017-18, up 48.98%.
“Selling via an MBO to my team, the very people who have been through all highs and lows with me is a dream come true,” said Jones, who’s previously worked at Newsquest Media Group, GCap Media, Global Radio and Titan Outdoor.
Webb will take on the role of managing director at the Welsh agency. He said: “S3 was a client of mine before I joined the business and so I’ve seen it expand from just having 3 members of staff to well over 40.
“I joined S3 Advertising because it is living proof that forward-thinking businesses can enjoy exciting campaigns that disrupt audiences – without having to go to London to indulge in them. We’re ready for much more of the same!”