London, England - In the first MBO in this sector this year, Pembridge - the new business accelerator for the creative industry - is taking a minority stake and a non-executive directorship on the board of Lexis and joins the current management team in buying out the two co-founders.
Pembridge consists of senior players from creative services firms including advertising, music, film, TV, PR, marketing and finance who work closely with creative companies to help them realize their commercial potential and maximum profitability. Pembridge works in partnership with its portfolio companies to help them achieve these goals in ways that empower companies like Lexis to keep control of their own business, to focus on staying at the forefront of creativity and, most importantly, to remain independent.
"Our deal with Lexis has proved that MBOs are possible in this sector. Pembridge is at the forefront of leading this type of deal, making financing available and giving our portfolio companies the option to remain independent. We predict that more creative service firms will be taking this route in the future." said Otto Stevens, the partner at Pembridge who led the deal.
Mark Adams, a partner at Pembridge, added, "We are really excited by the positive response from the creative services sector to our proposition. Our portfolio companies are enthused not just by the depth and breadth of our sector knowledge but also by the active and on-going interest and involvement Pembridge shows in the strategy of the business after the deal."
Hugh Birley, Managing Director of Lexis PR, commented, "The PR industry needs strong independent consultancies which can offer clients innovation, creativity and service. One of our consultancy's main strengths has always been its creative culture which may have been lost in a sale to one of the major groups. Pembridge has helped us deliver a deal which is in the best interest of our clients and Lexis's people."
