We are pleased to announce our role in this prestige sale
By Iain Black Posted 30 August 2017
Monahans is pleased to announce its role in the sale of Design Bridge Limited (“Design Bridge” or the “Agency”) to WPP Plc (“WPP”), having accountancy and tax advice to Design Bridge’s shareholders, along-side MHA partner, MHA MacIntyre Hudson, in the process.
Since it was founded in 1986, Design Bridge has grown to become one of the world’s leading international brand design agencies, garnering significant international acclaim for its creative work engaging with iconic global and local brands, as well as challenger brands around the world. The Agency employs around 400 people in London, Amsterdam, New York and Singapore and reported revenues of approximately £40 million and gross assets of approximately £28 million for the year ended 31 December 2016.
Design Bridge counts AkzoNobel, Diageo, Mondelēz and Unilever amongst its client base and combines strategic thinking, intuition and creative excellence to bring brands to life through great ideas that connect with people. Following the acquisition, Design Bridge will operate as a distinct and independently-positioned brand within the WPP group.
The Monahans team comprised Iain Black (Partner), Dominic Bourquin (Partner), Heather Weeks (Senior Manager) and Stephanie Hurst (Manager).
Sir William Goodenough, Executive Chairman of Design Bridge noted, “Our next phase of growth will see Design Bridge’s unique approach to strategic brand design come alive for more clients and in more parts of the world more often. We are so excited to become a part of WPP; the most impressive creative network on the planet. It will be transformative for our teams’ and our clients’ ambitions alike.”
Commenting on the role Monahans and MHA MacIntyre Hudson played, Mike Hawkins, Group Finance Director commented, “We were keen to secure the support of advisers we knew and trusted, understood owner managed businesses, and critically who knew the Agency when launching into the transaction process. Monahans has been Design Bridge’s auditor for many years and combined forces seamlessly with MHA MacIntyre Hudson’s transactions team. Together they really grasped the detail of the transaction and provided invaluable support and advice to assist the shareholders to maximise deal value, along side our legal team at Humphries Kirk and our lead advisory team at Lazard & Co.”
Iain Black, Partner of Monahans added, “It has been a pleasure for our us to have worked with Mike and the Design Bridge shareholders from the establishment of the company in 1986 through to the sale of the company, We have also had the opportunity to work alongside our MHA National Association partners at MHA MacIntyre Hudson in the process. Design Bridge is a special business and we wish the management team every success in the future.”
To discuss this or anything else please email Iain Black or call him on 01793 818300.