Bristol-based communications and marketing firm Purplefish has become the city’s first PR agency to be owned by its employees.
Director Joanna Randall, who formed the business in 2012, has sold 100% of its shares to a new employee ownership trust (EOT).
As part of the transition, a new board has also been appointed, with Joanna remaining as an active executive director and associate director Lucy McKerron promoted to the role of managing director.
They are joined by two employee trustee directors – senior account manager Jonathan Adams and account manager Zoë Fawcett.
Purplefish, which is based in Bristol’s creative business community at Paintworks, has built a strong reputation in the South West and nationally working for clients in sectors ranging from technology, property and leisure.
As an employee-owned business, its team will now have a greater input into the running of the business and in its future, as well as benefiting from a share of its profits.
The agency is also celebrating a clutch of new client wins in recent months, including experience business Yuup and Paintworks-based creative agency collective firm Istoria.
With a strong ethical stance, Purplefish is also a the Living Wage business, and two years ago was awarded B Corp certification in recognition of its commitment to people and plant.
Its transition to becoming the latest employee-owned firm in Bristol has been marked with a new website which reflects the value of harnessing emerging and generative AI technologies while maintaining a human-centric approach to communications and marketing.
Joanna, who was head of PR at McCann in Bristol before launching Purplefish, said: “This is a really exciting time for the business. As a sole owner and shareholder it can often be an isolated role so I’m really looking forward to being part of the new management team in defining our future direction.
“I believe our traditional business structures are becoming outdated where companies are run for the sole benefit of owners and shareholders – employee ownership offers a more authentic way of running a business where commercial growth is still a focus but the benefits can be shared more equitably.”
Lucy added: “I’m incredibly excited to be stepping into the role of managing director here a Purplefish, an agency I’ve come to know so well and love in the last two years since joining the team.
“The business is perfectly aligned with my personal values of integrity, creativity, and compassion, providing rewarding work for both myself and the wider team – something which will only be emphasised as we move into our EOT model.
“I’m looking forward to continuing to innovate as a business, both for our existing and new clients as we grow and evolve.
“We’re committed to leaning into the opportunities emerging technologies can bring while maintaining our human-centric approach to creativity, our connection to the issues that matter, while continuing to help our clients stand out and thrive.”
Employee ownership has more than doubled in the past five years, with Bristol firms such as animators Aardman, digital agency Torchbox and Sawday’s, the specialist holiday accommodation firm, making the move.
Pictured below, the Purplefish team. From left: Zoë Fawcett, Joanna Randall, Lucy McKerron and Jonathan Adams
