MBO marks new chapter for marketing agency
Proctor + Stevenson, one of the South West’s largest and longest-established marketing and communication agencies, has undergone a management buyout.
The agency, which specialises in business-to-business marketing, has a workforce of 60 people and revenue of £6m. It was established in 1979 by Roger Proctor who, after 44 years at the helm, is retiring.
The company will now be owned and managed by a leadership team of longstanding directors, comprising Ailsa Billington, managing director, Dan Hardaker, director of digital design, Steve King, director of technology, Phil Robinson, creative director, and Nikki Hunt, finance director.
The company has customers including Panasonic, Rathbones, Daikin, Pure Cremation and the UK Hydrographic Office.
The agency’s global footprint has also expanded significantly, particularly in North America, Asia and the Middle East, where it has achieved notable success over three decades. Today, operations in the Gulf Region contribute 25% of overall revenue.
Billington said: “The new board members have all risen through the ranks as employees, which is testament to our culture of reward and recognition. We believe in providing opportunities for team members across the lifetime of their careers.
“One of our key goals is to continue Roger’s legacy of innovation, with a number of new service launches in the coming year.”
One such service will offer SMEs the affordability and flexibility of design-on-demand services, backed by the expertise of a full-service agency.
To support the work of marketers across the B2B world, Proctors’ newly developed MarTech solution combines the latest technologies with cutting-edge creative, and enables businesses to gather insights into consumer behaviour, optimise targeting and build data-driven marketing strategies.
The new team will also continue many of the CSR commitments Proctor spearheaded.
The company is awaiting final certification for B Corp status, with projects such as making education accessible to women in the Middle East a key part of its social governance strategy, alongside a commitment to the Southwest Net Zero strategy.
Proctor + Stevenson will continue to allocate a percentage of its turnover to pro bono support for local charities including charities such as Caring in Bristol, Housing Matters, and Bristol Business Beats Cancer.
Funding for the transaction was provided by HSBC and legal advice was given by Michael Clarke and Richard Hopkins at Roxburgh Milkins.