London-based independent PR agency W Communications has taken a unique step towards its future by selling a majority stake to its employees through a government-backed Employee Ownership Trust (EOT). This move fuels the agency's ambition for further global expansion.Financial details are under wraps, but industry estimates value the fast-growing firm at around ?ú40 million. W boasts impressive revenue, exceeding ?ú16 million in 2023, with established operations in London, New York, Singapore, and Riyadh."As one of the most sought-after independent PR agencies, I have received many offers to buy this business. I only wanted to pursue a sale if it meant enabling the agency to unlock another level of value to ensure my W colleagues benefited in the long term. The option of an EOT was clearly the best way to benefit all parties and set the foundation for another 15 years of growth," said founder and CEO Warren Johnson.This new ownership model fosters direct employee participation and a stronger voice in shaping the agency's direction. Additionally, staff can enjoy tax-free bonuses of up to ?ú3,600.Johnson, W's mastermind for 15 years, remains at the helm as CEO, collaborating with the agency's senior leadership team. W will stay committed to strategic mergers and acquisitions, following successful acquisitions like Lotus and Franses. Additionally, W Capital, their internal incubator, will continue to nurture businesses in hospitality, digital retail, and sustainability.The agency's expansion plans target the broader GCC region beyond Riyadh, as well as solidifying their presence in North America and Southeast Asia.W's impressive client list encompasses consumer brands, tech giants, and corporate leaders like Unilever, Sony, Disney, Spotify, Adidas, Chanel, Speedo, Tinder, Nobu, British Airways, and Levi's.
