John Levick, the co-founder of B2B PR specialist VLP, has bought
out his partner Paul Vousden in a deal valuing the agency at £1m.
Vousden has been bought out for approximately £500,000 on the
tenth anniversary of the company's creation.
John Levick said: 'When we set up there was a plan that this would
Paul is older than me and felt he wanted to wind down a bit and pursue
some other interests.'
The deal has been accompanied by a re-branding as the agency focuses on
six core service areas: PR, internet, communications, lobbying, creative
services and events.
'Following the buy-out we will continue our form of PR with a marketing
edge,' said Levick.
'The re-positioning is an affirmation of the direction we have been
going in for two years,' he added.