SAN FRANCISCO: Bateman Group founder and CEO Fred Bateman has sold a majority stake in his firm, which is rebranding as Mission North.
Bateman is planning to work as an independent consultant. Agency co-owners Bill Bourdon and Tyler Perry have been named co-CEOs, leading the agency along with co-owner and GM of West Coast operations Shannon Hutto.
"After 15 years, I began reflecting on what I wanted to do with the rest of my career and what it is I’m passionate about," Bateman said. "I really like to build things, to build something from nothing and from the ground up, and I was itching to start something new."
He added that Bourdon and Tyler also want "to take what we had built in a different direction."
Bourdon said discussions about the new branding began last year after the firm’s 15th anniversary.
"Obviously, it was a year of deep reflection for me as a partner and the leadership team," he said. "Through the process of discussing our true north as an agency, it became clear it was time for us to evolve our identity though we still march to the same values that shaped our culture and reputation from the beginning."
Neither Bourdon nor Bateman would discuss the financial terms of the deal, though Bateman said they drew up a "noncompete agreement that was tailored for both of us to be successful, and I am happy with the market price."
The firm has also named Nicole Messier, EVP and GM for the East Coast; Gillian Davis, head of people; and CFO Michael Andrews to its leadership team.
The company said it has grown to 80-plus full-time employees in its San Francisco, New York and Portland, Oregon, offices and ended 2019 with 15% year-over-year revenue growth.