AGENCY NEWS: DirectionGroup completes management buyout
DirectionGroup has completed a management buyout (MBO) from founder, MD and majority shareowner Richard Stephens. The agency was acquired by Debbie Bough and Trish Harriss who will take the role of joint MD.
The MBO was achieved without external financial support and is said to leave the business with a strong balance sheet for future trading. DirectionGroup came 27th in 2012’s annual B2B Marketing Marcomms Agencies League Table.
Speaking about the MBO Bough said, “For our clients, employees, suppliers and other partners, it will be business-as-usual in 2013. The Directors and management team have a clear roadmap for the next five years and are committed to further expanding the position of DirectionGroup in the marketing services space.”