Web development and digital marketing agency CTI Digital has completed a management buyout (MBO) from its umbrella firm Paperhat Group.
After “four months of hard work”, the company’s management has bought back the 54 per cent share that previous backer Paperhat acquired in 2015.
The 75-strong agency will now operate as an independent company.
“In our fifteenth year of trading, we are confident in making decisions defined by our experience and expertise,” said CEO Nick Rhind.
“We pride ourselves on original thinking and flexible working practices; these are values that we can best adhere to as an independent agency.
“With ambitious plans for growth, we are excited to be in total control of the future of the agency.”
Managing director David Beswick added: “CTI is built on continual investment in talented individuals, advancing technology and our clients’ visions; we achieve this by investing in ourselves.
“In order to maximise efficiency, to perform with agility, and to be in a position to accept exciting challenges, we are proud to be an independent business once again.”
The MBO was officially completed this week. The company was supported by Cowgills and Brabners LLP.