Carnegie MBO sees rebranding as Atlantic PR

Carnegie Public Relations has undergone a management buyout and been rebranded as Atlantic Public Relations.

Carnegie Public Relations has undergone a management buyout and

been rebranded as Atlantic Public Relations.



The Edinburgh-based agency was formerly owned by Murray International

Holdings group, which is owned by Glasgow Rangers FC chairman David

Murray.



The MBO, which took place last week, was entirely amicable. Murray

retains a 15 per cent share, while Atlantic’s senior management team -

Malcolm Brown, managing director and David Southern, director - own 85

per cent of equity. The price was not disclosed.



Southern put the decision to make the move down to what he described as

the huge possibilities for PR in Scotland. ’Only a few agencies are

carrying out top quality work,’ he said.



Brown said: ’We are confident that by securing this buyout we will

capitalise on the business opportunities that presently exist.’



Carnegie PR reported fees of pounds 367,022 in 1999, up 30 per cent on

the previous year’s performance. It was founded in 1991 by Brown, and

current clients include KLM UK, West Coast Harley-Davidson and St

Andrews Bay golf resort. All clients have stayed with the agency

following the MBO.



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