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Diversified Global Graphic Group (DG3) has sold its marketing arm to its management for undisclosed terms. The new agency, Madisonsoho, has operations in Birmingham and London.

The new marketing agency serves the retail, leisure, and financial services sectors, with clients including the Bullring, IMI and Anglo American in addition to the Kingfisher Shopping Centre in Redditch.

The MBO was led by managing partner John White who said: “We are delighted to have done the deal with DG3. It was strategically right for them to divest the creative marketing arm and the buy-out provides a solid platform for us to grow and evolve as an independent agency.”

Factor 21 was the MBO’s primary backer, providing ongoing working capital through an invoice finance facility. The deal was structured by director Neal Errington in a short timeframe.

Errington said: “In essence Factor 21 is providing an invoice finance facility, but the varied nature of the receivable meant that a flexible approach was required in addition to speed.”

Other advisers included Shoosmiths who provided legal counsel to the management team.

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