We sold RocketMill today, to our employees
We started this journey 11 years ago with a desire to help small businesses win online and today we serve some of the best brands around with a celebrated focus on our culture
Our success means we field weekly unsolicited interest to buy us from networks, large indys and private equity. Our decision making framework in these matters is always as follows:
1. Is there a cultural fit? Who is across the table, what is our tummy telling us.
2. Are the strategic reasons right? We can’t just be an addition to another business’s EBIT.
3. Does it create opportunity for our staff and clients? It needs to be exciting for us all.
4. Is the financial offer fair? This last part is important, but the first three are more so.
We never wanted to sell RocketMill, we never started a sale process, however one unsolicited offer met the mark on every level – but there was one problem. Only two of us, Ben and I, would be the winners. It left us feeling there must be a better option.
That’s when we discovered employee ownership. A model that fits perfectly with our people first philosophy. A model that means we all win.
That is why, from today, RocketMill is an employee owned company, meaning:
- For our staff – they directly benefit from their endeavour via equity, profit share, tax free bonus and knowing that the agency must be run for their benefit.
- For our clients – we can keep attracting and retaining the best talent. Our team will be more motivated than ever to be an entrepreneur for their brands because they have skin in the game.
- For our future – Ben and I are staying put and are fired up for the future. We may still take investment at some stage, however if we do so it’ll mean we all win, not just Ben and I.
Ben and I are big believers in the spirit in which a deal is done. We feel everyone should win and we should feel proud at it’s conclusion. That is how we feel today, so we know we’ve done the right thing.
We also feel full of appreciation. We’d like to say thanks to our team. An agency is a team sport, we could write a book on the spirit and talent you’ve shared every day, this deal is a reward for that. Thank you to all our wonderful clients for your trust, we’d have fallen flat on our face without you, this move protects what you’ve invested in. And finally thank you to the army of vocal and silent supporters that have all done their bit to nudge us in the right direction, you and we know who you are.
The adventure continues.
Sam Garrity
CEO, RocketMill