Proctor + Stevenson, one of the South West’s largest and longest-established marketing and communication agencies, has undergone a management buyout (MBO).
The award-winning agency, which specialises in business-to-business marketing, has a workforce of 60 people and revenue of £6 million. It was established by Roger Proctor MBE in 1979 and after 44 years at the helm, Roger 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 transition to management ownership underlines a commitment to continuity and progression from within, with those on the board having contributed significantly to the business’ success to date, with almost 90 years’ experience at Proctor + Stevenson between them.
The company, whose customers include Panasonic, Rathbones, Daikin, Pure Cremation and the UK Hydrographic Office, has seen substantial growth in recent years. In the past financial year alone, it grew by over 22%, almost 15% above the industry standard.
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.
Ailsa Billington, Managing Director, 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 Roger 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 within its local community.
It will also continue to deliver the South West Design + Digital Student Awards, an initiative Roger set upas part of an ongoing campaign to tackle the way institutions approach design education, opening doors for the next generation of design talent.
Funding for the transaction was provided by HSBC and legal advice was given by Michael Clarke and Richard Hopkins at Roxborough Milkins.