Manchester marketing agency in MBO
MANCHESTER-based marketing agency Delineo has completed a management buyout.
The £3.7m turnover agency, which employs 48 staff, was founded in 1982 by Steve Rothwell before being taken over by Nick Melvin and David Southworth in 1998.
The buyout by Stephen Frater, Sam Rowlands, Leigh Sheridan and Julia Ingham, sees digital director Frater take on the role of managing director and current chief executive Melvin move to the position of chairman while remaining as a project strategist in the agency.
Frater said: “The MBO has been a transition process that has seen the executive management team assume operational control of the business over a three year period during which time we have significantly grown the agency and its digital services.
“With a fantastically supportive board we have had the opportunity to grab hold of the agency and stamp our mark on it.”
He added: “I’m looking forward to leading the team through the next evolution in agency services as we seek to add maximum value for our existing and future clients. Nick’s continuing role in the business is a real bonus as we know we will be able to call on his experience when needed.”
Melvin said: “Sustainability is one of the greatest challenges for any agency – the MBO team have invested blood, sweat and tears in transforming Delineo for a new generation. In the process they have created a fantastic opportunity for themselves and their colleagues. I am immensely proud of their achievements and thrilled to have the opportunity to keep playing a part on the agency.”
