Marketing firm plans growth after new investment
A Shropshire marketing and digital agency is set for expansion after receiving a six-figure funding injection from an angel investor.
The funding will help Reech with its plans to increase the company’s turnover four-fold by 2022.
The investment has come from the founder of Rockford IT, Tom Sykes, who sold the firm in a landmark £3.9m deal to SysGroup at the end of last year.
The funding sees him take a 30% stake in Reech, which is run by managing director Rob Hughes.
Mr Hughes, 34, started the business along with his wife, Joanna Hughes, in their spare bedroom in 2009 after being made redundant.
He has since grown the business to 11 staff, with clients including Wolverhampton Wanderers, Aico, The Shingler Group, Technology Supplies, SJ Roberts Homes, and the ARH Group.
He said: “It was incredibly flattering when Tom approached James and I with this offer. The business has grown impressively from humble beginnings but this investment will accelerate our expansion plans significantly.
“We worked with Rockford IT for a number of years while Tom was chief executive and we’re delighted he’s had the faith to put his own money into Reech.
“The business will continue to offer ground-breaking branding, design, website development, and digital marketing, including content creation and SEO, but we also want to enhance our offering in the coming years to become a major player in the Midlands.”
The move will seek to double Reech’s office capacity, increase staff and expand the company’s digital marketing operations, specifically mobile apps and bespoke software solutions.
Mr Hughes will retain the majority shareholding while James Brinkler, now technical director, has upped his stake in the business. Head of design, Dena Evans, will become creative director and a shareholder.
Mr Sykes, 36, will become executive chairman and brings chartered accountant Grant Thomas, 37, with him as financial director.
“We’re investing in Reech because we recognise the great talent they have to offer,” said Mr Sykes.
“Even when Reech pitched for our business some years ago they were the only agency to come and find out what we actually did. Their attention to detail, along with their commitment to going the extra mile, already puts them head and shoulders above the rest and now we’re able to give them a launchpad for expansion.”
Expansion will see new jobs being created, while value-adding acquisitions have not been ruled out.
Reech instructed Shrewsbury solicitors, Lanyon Bowdler, to work on its behalf, while Mr Sykes instructed fellow Shrewsbury firm, Aaron & Partners.
Aaron & Partners, with solicitor Zoe Lloyd, advised on the deal which saw Rockford IT sold to SysGroup.
Pictured from left: Jennifer Gibson, Gráinne Walters, Grant Thomas, Tom Sykes, Rob Hughes, Dena Evans, James Brinkler, Hugh Strickland, Joanna Hughes and Zoe Lloyd.
