SCOTTISH public relations industry veterans Alex Barr and Neil Gibson are selling The BIG Partnership to six fellow board members in an £11 million deal that values their stakes at more than £4m each.
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BIG Partnership made operating profits of £1.3m on turnover of £8.3m in the year to May 2015.
Mr Barr, 47, and Mr Gibson, 55, each own about 40 per cent of BIG Partnership.
They bought out fellow co-founder Graham Isdale when he left in 2005.
Zoe Ogilvie, head of BIG Partnership’s Aberdeen office, has played a key part in helping Mr Barr and Mr Gibson expand the business, enjoying great success in the public relations market in the Granite City.
Ms Ogilvie also has a stake in BIG Partnership, and is the next biggest shareholder to Mr Barr and Mr Gibson.
Allan Buchan, a senior account director in BIG Partnership’s Fife operation, also has a stake in the agency.
He acquired his shareholding when BIG Partnership bought the Catchline public relations business in which he previously had a stake.
Public relations veteran Marjorie Calder, who left BIG Partnership last summer and works for Macdonald Hotels, also has a stake in the agency.
Under the terms of the deal, the existing owners of BIG are selling their stakes to the six-strong management buy-out team over a seven-year period to 2021.
Mr Barr and Mr Gibson will retain small shareholdings following the deal, selling the overwhelming bulk of their stakes.
Among those in the MBO team are Ms Ogilvie, and Allan Barr, who is Alex’s brother and head of digital at BIG Partnership and joined the business in 2007.