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Warren Johnson (pictured) wouldn’t say the exact proportion of W Communications that had been bought, or touch upon the value agreed, however PRWeek UK estimates the worth of the entire company to be round $52 million.
W is the most recent in a string of founder-owned companies which have transformed to EOT standing lately, together with Citypress, Brands2Life and Pitch.
Below the settlement, the shares bought by the founder are bought by a government-approved Worker Possession Belief created to profit all present and future workers.
Johnson stated he would proceed in his function by working with W’s senior management crew to evolve the company, hinting at additional growth and acquisitions. In addition to proudly owning a stake within the enterprise below an EOT, company employees also can obtain tax-free bonuses as much as a price of $4650.
Johnson advised PRWeek: “As one of the vital sought-after impartial PR companies, I’ve obtained many provides to purchase this enterprise. I solely needed to pursue a sale if it meant enabling the company to unlock one other degree of worth to make sure my W colleagues benefitted in the long run. The choice of an EOT was clearly one of the best ways to profit all events and set the inspiration for one more 15 years of development. I look ahead to working with my EOT companions on this thrilling new chapter of W.”
Arrange in 2010, W has grown shortly and was named one in every of PRWeek’s Businesses of the Decade in 2019. Initially and nonetheless London-based it has opened hub workplaces in New York, Singapore, and Riyadh, in addition to ‘bureaux’ throughout Europe, North America and the Center East.
The company has annual revenues of greater than $20.7 million with a shopper roster that features Unilever, Sony, Disney, Adidas, Tinder and Nobu.
Over its historical past, it has additionally acquired a variety of smaller companies, together with Lotus – the journey specialist is believed to be 40-people robust now – and extra just lately, Franses. The founders of these two companies – Jules Ugo and Chloe Franses, respectively – now sit on the management crew alongside such executives as director Nadia Hamed, world head of media David Frossman-Miller and govt artistic director Scott Dimbleby.
W additionally operates a proper incubator, W Capital, to help varied companies inside the hospitality, digital retail, and sustainability sectors.
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