York agency secures investment from private equity firm LDC as it pushes for growth

York-based employee engagement consultancy scarlettabbott has secured investment from LDC, the private equity arm of Lloyds Banking Group, which supports growing medium-sized businesses.

LDC recognised the strength of the consultancy’s people and service offering, and the partnership comes after LDC met with the management team to understand how the firm can further support the consultancy’s growth and ambitions for the future.

Managing director Jeremy Petty will move into the role of CEO, with scarlettabbott’s co-founders Rachel Thornton and Jonathan Abbott moving to non-executive positions on the Board.

Commenting on the partnership and the future of the consultancy, Jeremy Petty said: “This is a hugely exciting time for scarlettabbott. We have seen significant growth in recent years through our focus on creating a better world of work for our colleagues, our clients and the industry as a whole.

“The partnership with LDC represents a great opportunity to bring in not only significant investment to our business, but also vast experience and expertise. This puts us in a unique position to continue to expand our team and deepen the partnerships we have with our global clients further in the coming years by offering a wider range of services in the employee engagement and people consultancy space.”

LDC investment director Lee Donaldson also joins the board, alongside industry heavyweight Euan Jarvie, former UK & Ireland CEO of the multinational media and digital marketing communications company Dentsu International, who will take a role as non-executive chairman.

The investment comes at the perfect time for scarlettabbott, following a period of substantial growth across clients and colleagues, with the consultancy recording a compound annual growth rate of 20 per cent, significant increase in headcount and a portfolio of major global clients including Sony Interactive Entertainment, Booking.com, EY and Chivas Brothers.

These successes were further recognised at this week’s annual Drum Agency Business Awards with scarlettabbott taking home the coveted ‘Best Performing Agency’ award.

By Mark Adair – Correspondent, Bdaily

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