A leading Welsh creative agency which began life in Newport has new owners following the successful completion of a management buyout.

Cardiff-based Stills Branding has been acquired in full, by existing director and shareholder Steve Sulley, the former marketing manager at the South Wales Argus, and head of design Ceri Lovett.

The new structure sees former Newport County AFC director Steve as managing director and majority shareholder, and Ceri as creative director.

Finance Wales part-funded the deal, and Simon Tee, of Newport-based Kilsby Williams, and Sion Tudor, of Capital Law, both advised on the buyout.

The deal is the culmination of a plan started in 2013 when Sulley took a shareholding and began working with the company, using his 20 years’ sales and marketing experience from the media and communications environment to help drive the business forward.

Within 18 months, Stills recorded its best ever year in terms of revenue, with turnover increasing by 27 per cent from the previous year, to £1.2m.

The company also relocated to the distinctive Coach House in Pontcanna – renovating the property from the ground up to create a unique office environment.

Steve said: “I am delighted to finally complete the purchase of Stills. It is an agency with a fantastic client base across Wales and the rest of the UK, and we have some exciting growth plans on both sides of the bridge. I want to thank Finance Wales along with Simon and Sion for their help and support during the buyout.”

Investment executive Leanna Davies, who structured Finance Wales’ investment in the business, said: “It’s always great to see ambitious directors like Steve fully take on a business when some of their business partners are ready to sell up. Alongside Ceri’s intimate knowledge of the business and industry you have the ideal team to ensure a smooth transition as the business changes hands."