Cool digital agency completes hot deal

COOLPINK, the Leeds-based digital agency, has been bought out by existing managing director Mark Bower for an undisclosed sum.

The transaction sees Mr Bower assume operational control of the company, following the buyout of his business partner and a previous investor.

Coolpink provides a range of digital marketing services to clients including DFS, Opera North and regional development agency Yorkshire Forward.

The agency advises clients on their digital marketing strategies and then implements creative online solutions including search optimisation, email campaigns, and social/affiliate marketing.

Commenting on the deal Mr Bower said: “I am delighted to have completed the buyout.

“The agency has had a very successful 12 months where we have achieved fantastic growth and I am thrilled about our future prospects in what is an exciting sector”.

Steve Hubbard, corporate finance director of RSM Bentley Jennison, which advised the management, added: “The shift to digital media continues to grow at a rapid pace and the current economic issues have if anything accelerated this.

“Mark has positioned the agency well to take advantage of this and the future looks positive”.

Simon Cureden of Irwin Mitchell was the legal adviser to the purchaser.

Mr Bowers founded Coolpink in 2001 after building and subsequently selling two other online businesses.

He previously worked in the print and publishing sector with Apple and Sun Microsystems. 

The transaction was funded with equity from Whitston Group, the investment vehicle for entrepreneur Justin Whitston.

As well as investing in established businesses the Whitston Group is looking to provide funding and operational support to new ventures.