DENVER: Barnhart/CMI, an integrated agency that earlier this year bought a local PR firm, has a new owner.
Founder Terry Barnhart has sold the agency to William Schumacher, who most recently was director of marketing services with Pure Fishing, an Iowa firm.
Schumacher also had been advertising director at Kraft Foods for eight years and spent 12 years at Leo Burnett in Chicago.
Schumacher said he was impressed with the agency's work and so began talks late last year about acquiring it.
While Schumacher's background is in advertising, he said he sees PR remaining a major part of Barnhart under his ownership.
Barnhart at the start of this year bought Charney Bergner & Holdren Public Relations. Larry Holdren from that firm is now Barnhart's director of PR and will remain so under Schumacher's leadership.
Schumacher is becoming president of the firm, which will change its name to Barnhart, dropping the CMI. CMI were the initials of another firm Barnhart had acquired.
Founder Terry Barnhart will remain at the firm in an advisory capacity.
Terms of the deal were not disclosed.
Barnhart has five PR staffers in its Denver office and four in a Cheyenne office that handle PR and advertising, Holdren said.
"This is a classic example of a founder/owner attempting to find someone to pass the baton to," said Barnhart.
He decided to sell to Schumacher because Schumacher has "some of the best national credentials I've seen come into this market," Barnhart said.
Schumacher said he has no plans to acquire other agencies. "Our emphasis is going to be on organic growth," he said. Schumacher has relocated from Iowa to Denver to run the agency.