LONDON--UK company Kaizo has become the latest PR firm to buy back its independence, commencing an MBO from its parent company The Argyll Consultancies.
The bid is led by MD Rhodri Harries and three other executive directors: Steph MacLeod, Crispin Manners and Rosemary Brook. Under the terms of the proposed sale, the Kaizo name will remain in place, and the business will be wholly-owned by the current management team.
During the past year, a handful of prominent PR firms have bought themselves back from parent companies: Freud Communications (from Publicis Groupe), MWW (from Interpublic Group) and Brodeur Partners (from Omnicom Group).
Harries said that the MBO would help spur improved growth at Kaizo. “Over the last few years we have built a great reputation for our work, particularly in relation to social media and big brand campaigns, and have won many awards across multiple categories for clients including Unilever and Cisco, but we have not achieved the growth we sought.”
Kaizo was formed in 1999, when Argyll merged its two PR arms: Arrow and Abacus. Argyll is currently listed on the PLUS stock exchange.