Lopex Communications has sold its Glasgow advertising agency, The Bridge-Alliance, to a management buyout team for a six-figure sum.
The deal sees the return of former The Bridge managing director Brian Crook, who quit the agency in 1992 for Marr Associates.
He takes up the role of managing director again.
The agency was left without anyone at the helm following the resignation of managing director Libby Child in October. She went to McCann-Erickson Europe to head the Martini and Bacardi accounts.
Crook, together with creative director Jonathan d’Aguilar and deputy creative director Liz O’Connor, now own the agency jointly. The deal was completed on Dec-ember 31.
It is believed a number of options were considered for The Bridge following Child’s departure, including selling it to another agency.
Neither The Bridge nor Lopex will comment on the terms of the deal. It is believed Lopex will receive a percentage of the agency’s earnings over the next two years but that some money has been paid upfront.
The Bridge has had a troubled past. In 1992, three senior level staff quit to set up Williams Atkinson Mills. Shortly afterwards Crook left, ironically because Lopex would not approve a management buyout.
The Bridge has billings of about 10m with clients which include Baxter’s and the Health Education Board for Scotland.
Lopex owns recruitment agency Riley Advertising, direct marketing consultancy MBO-RCF and marketing agency Purchasepoint Group.