Geoff Griffiths seals Builtvisible management buyout
Builtvisible has been acquired in a management buyout by managing director Geoff Griffiths and his management team, in a vendor financed MBO by Builtvisible Holdings LTD. Following a continuous period of growth and financial performance since he was appointed in 2015 as managing director, Geoff Griffiths, accompanied by his management team, will take a controlling stake in the company from 4 December 2019.
Griffiths' work with the agency business and the wider company team have seen recent long term client acquisitions from hugely exciting global brands including Avis, Hunter Boots and Towergate Insurance, exceptional employee and client retention in a highly competitive area of the market.
Outgoing director, Richard Baxter said: “This is a fabulous opportunity for a stellar management team to really secure the benefits that should come from their incredibly hard work over the past 24 months. I’m delighted and proud to see the agency brand I’ve worked with for a decade in such safe hands. Geoff is executing a long term client acquisition strategy coupled with cutting edge product development in SEO, Content Marketing, Analytics and Digital PR.
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"Builtvisible’s exceptional client retention rate and account level performance says everything to the quality of the management and the employees in this company. I wish Geoff and his team all the best of luck for the future, and look forward to sitting on the board as a Non-Executive Director.”
Griffiths commented: “This is fantastic news for both our people and our clients. This transaction levels up our independence and I am incredibly excited about the opportunities our new structure presents to our industry-leading team – allowing them to further buy in to something that is already very special indeed.
"We have increased our ability to develop and retain industry-leading talent, invest back in to the performance-driven product offering our clients benefit from so consistently and ultimately achieve our goal of delivering the most meaningful agency experience in the world. Richard’s on-going support and product leadership has been invaluable since I took over in 2015 and I am thoroughly looking forward to continuing to work alongside him in this new capacity.”
The MBO has benefited several employees with shares, providing increased control and shareholding within the business.
Builtvisible has been growing in consulting revenue year on year at 25% in the past 24 months, adding new key management appointments, moving to larger offices and exceeding revenue expectations.
Michelmores LLP acted for Richard Baxter, with the management team being advised by Penningtons Manches Cooper LLP. Corporate Finance assistance to all parties was provided by Thomas Westott and Partners. Grant Masom also joins the board as director along with Geoff Griffiths and Richard Baxter.
Builtvisible is an award-winning independent agency specialising in SEO, content and analytics.
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