WMH&I Completes Successful MBO From Writtle
Writtle is pleased to announce that the directors of WMH&I have completed an MBO of the company from Writtle. The transaction is the second MBO of a Writtle agency following Epoch’s MBO in May this year and is a continuation of Writtle’s strategy to become investors rather than managers in its Innovation Business Group agencies. The MBO sees Writtle retain a minority shareholding in the company, with the WMH&I directors increasing their current shareholdings to a majority. Loan funding for the transaction has been provided by Barclays through senior debt, and part of the consideration was satisfied by issuing loan notes to Writtle. Writtle intends to use the cash proceeds for future share buybacks.
Commenting on the transaction, Writtle Chairman Robert Essex said: “WMH&I was created by the merger of Writtle agencies Williams Murray Hamm and Identica in 2020 and has gone from strength to strength since, winning numerous creative awards as well as delivering strong financial results. Writtle is delighted to be retaining a minority shareholding, and we look forward to watching Daisy, Wybe and Mark develop the business further”.
Daisy Benn, WMH&I Managing Director added: “We’re excited to begin this new chapter as an independent branding agency, with Wybe Magermans, Mark Nichols and myself leading the business, alongside the talented team that has helped shape WMH&I into what it is today. We’d like to thank Writtle for their support over the years and for their belief in our management team. This transaction gives us the opportunity to build on everything we’ve achieved while creating our own future as an independent business. Creativity has always been at the heart of WMH&I, and we believe in its power to transform businesses. As we look ahead, our ambition is to continue producing exceptional work for our clients, invest in our people and culture, and build one of the UK’s most progressive independent branding agencies.”
Notes to Editors:
Writtle is an International Marketing Services Group with revenues of £100m and operations in the UK, US, India and China. Further information can be found on www.writtle.com
WMH&I is a branding agency that uses the power of creativity to create meaning, connection and impact in a world that never stands still. Further information can be found on www.wmh-i.com.