Harper Macleod are delighted to announce that its Corporate and Employment teams, led by Stephen Chan, have advised the shareholders of creative agency Whitespace in its sale to Dentsu Aegis Network for an undisclosed sum.
The 65-strong team at Edinburgh-based Whitespace, which works for prestigious clients including Aegon, Sainsbury's Bank and Scottish Government, becomes part of Dentsu Aegis Network’s northern operations.
Iain Valentine and Phillip Lockwood-Holmes, Whitespace's joint managing partners, will continue to lead the business, with the current management team and all employees remaining in place in Edinburgh.
Dentsu Aegis North employs 640 people across Manchester, Leeds, Edinburgh and Newcastle, providing media, digital, creative, data and technology services for clients such as Thomas Cook and Visit Scotland.
Harper Macleod Corporate Partner Stephen Chan said: "I'm extremely pleased that we have managed to achieve the sale for the shareholders within their desired timeframe. On a personal level this is a particularly poignant moment, having acted for the shareholders since their own management buyout in 2009 and now seeing the relationship come full circle with the sale to Dentsu."
Phillip Lockwood-Holmes, Whitespace's joint managing partner, said: "Stephen and his team led us through this process calmly and diligently, at all times ensuring that Iain and I understood the implications of the deal. Many thanks to all at Harper Macleod for their support over the years, from our original MBO to joining Dentsu Aegis Network."