Michelmores advises on management buyout of Builtvisible
Michelmores have advised Richard Baxter on the vendor financed management buy-out (MBO) of Builtvisible Limited (Builtvisible).
Builtvisible is an organic digital marketing agency that was founded by Richard Baxter in 2009 and is now a 50 strong full service agency based in the heart of Old Street, in London. Global brands that Builtvisible works with include Avis, Hunter Boots and Towergate Insurance.
Geoff Griffiths, Managing Director of Builtvisible since 2015, led the acquiring management team and Richard Baxter will retain a significant stake in the company. As part of the transaction Grant Masom also joins the Builtvisible board as a director.
Richard Baxter commented,
"This is a fabulous opportunity for a stellar management team to really secure the benefits that should come from their incredibly hard work over the past 24 months. I'm delighted and proud to see the agency brand I've worked with for a decade in such safe hands. I would also like to thank Michelmores for their hard work throughout the process – their guidance and support have been greatly appreciated by the team and me."
Harry Trick added:
"We are delighted to have acted for Richard on this MBO and we wish him and the management team every success. Richard and the Builtvisible team have built a great agency over the past 10 years and we are looking forward to seeing Geoff and the rest of the management team take it into a new era".
Thomas Westcott and Partners provided corporate finance support and the management team were advised by Penningtons Manches Cooper LLP.