Our corporate team advised Intermarketing on this deal. The agency acquired fellow Leeds business Teabag in a buy-out from its owners.
The buy-out from owners Liam Grogan, Stuart Baker and Adam Blain, will see headcount at Intermarketing Agency approach 100 with plans to expand the business further.
Since their management buy-out of Intermarketing Agency three years ago, managing partners Jamie Allan and Steve Sowden have grown the business, doubled the number of employees, moved to new premises and extended its product offering.
The acquisition provides the creative agency, which was founded in 1989 and has a turnover of more than £11m, with thirteen additional digital and motion experts to supplement its existing digital team and support the agency’s focus on its digital capabilities moving forward.
Mr Allan said: “We‘ve been working for a few years together across projects for our clients so the buy-out was a logical move and beneficial to all. Digital now impacts on nearly every campaign we run for our clients and this expansion has been a key part of our strategy.”
Mr Sowden added: “Earlier this year we appointed Karen Lewis as our head of digital, and now we’re incredibly proud to bring Teabag into the business and excited for the future. We’re delighted that Liam, Stuart, Adam and their team have all committed their futures to Intermarketing Agency, and that Karen will lead the team to ensure that we continue to deliver the best for our clients.”
Mr Baker of Teabag, which was founded 11 years ago, said the team is excited to be joining Intermarketing Agency and Mr Grogan added: “The move provides an opportunity to build on our achievements and become part of a wider, integrated and established strategic marketing agency, working with a greater mix of clients and some leading global brands. We firmly believe that Intermarketing Digital will offer our existing and new clients the best digital and motion services in the business.”