Coopers competes MBO to drive expansion
A ROCHDALE-BASED creative agency has been bought by its existing management in a deal worth £60,000.
The purchase of Cooper’s Graphic Design and Advertising was led by existing partner, Tony Butterworth, who has now taken over sole control of the business from founder Trevor Cooper.
The company has announced that it has ‘doubled’ its income within the two weeks of the management buy-out (MBO) compared to the previous two months of trading.
The MBO, which was structured and completed by Radcliffe-based Wilds Chartered Accountants, was funded through RBS under the Enterprise Finance Guarantee scheme (EFG).
The deal involved the creation of a newly formed limited company to buy-out the partnership of Cooper’s Graphic Design and Advertising – the EFG scheme was used to bolster security.
Mr Butterworth, who joined the company in 1986 and became a partner 10 years later, said: ““In the last three decades, the agency has established an excellent reputation for delivering creative and innovative solutions for a diverse range of clients. The financial restructure lays a firm foundation for the company to capitalise on its success and achieve sustainable growth with a view of making the business a saleable asset in 10 to 15 years’ time.”
Mr Cooper, who founded the company 29 years ago, is retiring.
