Directors complete acquisition of major stake in Leeds PR and social media agency

A major stake in Source Marketing Communications, the Leeds-based PR and social media agency, has been acquired by directors, Daniel Kennedy and Martha Phillips.

This deal sees one of the company’s founding directors, Steve Clark, step back from day-to-day involvement in the business.

Source Marketing Communications was founded by Steve Clark and Peter Downey in 2001.

The agency delivers PR, social media and digital solutions for a wide range of local, national and international B2B and B2C clients.

Daniel Kennedy, a director of Source, said: “The PR scene has changed dramatically since Peter and Steve set-up Source back in the early noughties; with various big names disappearing, and a host of new ones coming to the fore.

“Source though has been there throughout – coming through not only the biggest recession in living memory, but the birth of social media and the seismic change that has had on the PR landscape.”

“Martha and I are delighted to have been given the opportunity to take the lead at Source, and our aim is simple – we want to build upon its impressive track record and ensure its success story continues for many more years to come.”

Steve’s founding partner, Peter Downey has retained his share of Source and has no intention of reducing his full-time role in the company in the foreseeable future.

Martha Phillips, who joined Source to form its social media arm in 2015, added: “Source is one of the most well-respected names in Yorkshire PR and social circles – a reputation that has been earned by year-upon-year of incredible client service and the provision of high quality, no-nonsense PR content.”

“A huge part of this success has been down to Peter and Steve, and so we are extremely grateful that Peter will remain fully involved as his expertise will continue to be invaluable to both the business and its clients for many years to come.”

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