Underwired sells to Leeds agency

Underwired, the CRM specialist agency which sealed a management buyout two years ago, has been snapped up by Leeds-based advertising agency Gratterpalm, for an undisclosed sum.
Co-founded by Felix Velarde (pictured) and Jason Holland, Underwired has worked with brands including P&G, ESPN, Travelodge, ASICS, Regus, Marks & Spencer, Virgin, McCain, Sony, Mitchells & Butlers, The Sun, Brand Alley and East Coast. It completed the MBO from parent Hasgrove in March 2012.
Gratterpalm was set up in the late Nineties, and its clients include Asda, Greggs, P&G, Magners, Halfords, the White Company, Lakeland, Magners and Gaymers.
It is run and co-owned by two managing partners, Gordon Bethell, who has been at the agency since 2002, and Gareth Healey, who joined in 1999. The duo purchased the company in 2002 as part of an MBO; it is also ranked in the top 30 of the “Sunday Times Best SMEs To Work For” list.
The acquisition will create an agency with combined income of £12m and a headcount of 170.
Bethell said: “With Underwired, we have found a great team with industry leading skills and expertise in an area that is key for all of our clients. Connecting all of our shopper marketing and campaign strengths with customer data and strategic planning means our clients can continue to stay ahead of their competitors. The ability for us to deliver across the whole customer journey, in every channel, is of critical importance.”
Velarde added: “Multichannel thinking is a pressing reality for all of our clients. Brands and retailers need continuity, coherence and consistency throughout all stages of the customer lifecycle. This deal gives clients a highly competitive combination of multichannel strategy with outstanding instore, digital, mobile and advertising. Advisers on the deal were Green Square, Gordons Brown Butler and Lewis Silkin.