CHI and Stead sign deal to buy Rapier

Be the first to comment
Jonathan Stead: deal to buy Rapier with CHI & Partners completed
Jonathan Stead: deal to buy Rapier with CHI & Partners completed

CHI & Partners Holdings has completed its deal to acquire a joint stake in Rapier along with Jonathan Stead, the agency's chief executive.

However, the relaunched Rapier, which fell into administration last month, has been unable to secure a deal to retain its 40 per cent stake in McCormack & Morrison.

The digital agency, which has clients including Virgin Active and Royal Caribbean International, is close to completing a deal to buy back the 40 per cent stake that Rapier acquired in 2009 from the administrators.

McCormack & Morrison will then look for another agency to acquire a minority stake in the business.

Rapier, which went into administration after a series of account losses, will relaunch as a new agency trading as Rapier Communications.

Talks continue with staff over their redundancy pay and the number of employees transferring to the new business has yet to be finalised.

Click here to read the full story in this week's issue.



Only £57 for 3 months

Includes every print & iPad edition, plus full access to Campaign online and other Brand Republic sites.


Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now

Campaign Jobs

Thousands of jobs across advertising, creative, marketing and media

Just published