A management buy-out of the Interpublic Group- PR company Weber Shandwick Dublin has been completed by the agency’s managing director Siobhan Molloy for an undisclosed sum. In a separate deal, Weber Shandwick in Belfast has been bought by MD Ross Williamson.
The full-service communications and public relations agency will be independent from IPG and but will serve as a Weber Shandwick partner in Ireland.
“Operating as an independent agency will provide us with us with additional opportunities and agility to develop our business in this market while remaining as the Irish partner to the international Weber Shandwick network, which has served us well for the last twenty years,” says Siobhan Molloy.
“This deal is a win-win for both our clients and staff. We have local autonomy for the business, whilst staying close to our expert colleagues across the Weber Shandwick world. To be able to make this change with the support and partnership of IPG and Weber Shandwick’s senior management team reflects the progressive leadership the company demonstrates every day,” shesays.
“The demand for clear and effective communications has never been stronger in this unprecedented business environment. As a result, it has been an exceptionally busy period for our Irish agency’s expert strategic communications services and consumer engagement solutions for our portfolio of indigenous and international clients, ”she adds.
According to Jonas Palmqvist, chief operating officer, EMEA, Weber Shandwick: “One of Weber Shandwick’s core strengths is the combination of our expansive global network of owned offices with our partnerships around the world – allowing us to serve our clients wherever they are. Our business in Ireland has delivered valuable solutions for local and multinational clients for many years, in no small part due to Siobhan’s leadership. As an independent agency the team will now benefit from additional opportunities for growth while continuing to stay connected to the Weber Shandwick family.”
The move by the Weber Shandwick team to stage an MBO follows a similar move recently which saw management at Drury Porter Novelli acquire the company from its US headquartered parent Omnicom.