£1.2m turnover brand agency sold in an MBO

Thu, 28 Jan 2016 | MBO/MBI

Stills Branding, a creative agency in Cardiff that counts BBC Wales and Barclaycard among its clients, has changed hands in a management buy-out.

Existing director and shareholder Steve Sulley and head of design Ceri Lovett took on the business, with the deal part-funded by Finance Wales. Sulley is now the managing director and Lovett is the creative director.

Established for 30 years the agency builds and manages customers' brands, with services including strategy, design and content. Other household name clients are Tesco, PHS, Morgan, Tata Steel and Cancer Research Wales.

The management buy-out is the end result of careful planning, starting when Sulley bought a shareholding in the company in 2013 and began working at Stills. The company reported its best sales with revenues of £1.2 million, an increase of 27 per cent on the previous year, all within 18 months of Sulley starting.

Regarding the deal Sulley said: "I am delighted to finally complete the purchase of Stills; it is an agency with a fantastic client base across Wales and the rest of the UK, and we have some exciting growth plans on both sides of the bridge."

Leanna Davies handled Finance Wales investment in the deal, said: "Steve and Ceri have worked together at Stills for over a year and have developed a clear vision of how they want to take the business forward."

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