Wolff Olins, the international brand consultancy, has seen its 30 per cent stake held by Lloyds TSB Development Capital (LDC), the small to mid market buyout firm, sold to Omnicom Group. The terms of the deal were not disclosed but Wolff Olins is now an autonomous subsidiary of the Omnicom Group of companies.
Omnicom is a strategic holding company that manages a portfolio of global market leaders in the fields of advertising, marketing services, specialty communications, interactive/digital media and media buying services.
LDC invested GBP2 million in Wolff Olins in 1997 as part of a management buyout led by the managing director Charles Wright. LDC provided no further financial assistance during the life of the investment.
Patrick Sellers, LDC’s regional managing director said:
“[Wolff Olins] has achieved phenomenal growth in terms of turnover, client portfolio and geographical reach.”
Established 36 years ago, Wolff Olins has created industry-defining brands for clients including Apple Records, the record label for The Beatles, Credit Suisse, first direct, Go, Orange and the World Gold Council.
It employs 200 staff and has offices in London, New York, San Francisco, Madrid, Lisbon and Tokyo.