The acquisition gives the agency its first permanent office in Manchester as well as beefing up its consumer proposition. The two firms have been in talks for the last six months.
Stripe is headed up by Denise Mullen, the former Harrison Cowley UK head of business. Mullen and her two staff will join Paver Smith bringing with them clients Ikea, Manchester Greyhound Stadium Bella Vue and neurological centre the Walton Centre.
The sale brings Paver Smith's total headcount to 36, but MD Dougal Paver has predicted this figure will be 'closer to 50' by the year's end. Paver is also looking to buy a second agency this year, based in London.
Paver Smith bought Factory Communications in May last year. Factory was run by the former acting editor of the Liverpool Echo Jon Brown and his partner Jane Wolstenholme, former editor of the Liverpool Daily Post.
Paver Smith's clients include Shell, Grant Thornton and DLA Piper. It saw a 48 per cent growth last year.