MBO at £30m digital agency
The management team at Harrogate-based agency Ingenuity Digital Holdings Limited (IDHL) group has acquired the business.
A team led by Dennis Engel, chief executive of IDHL has increased its shareholding at the 120-strong digital agency.
A funding package from HSBC and Frontier Development Capital values the business at £30m, but the terms of the deal are undisclosed.
The MBO allows an exit for investors and enables the senior management team to become majority shareholders.
The investments from HSBC and FDC follow a peri... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
