Print Published 6th Sep 2012, 16:24

Rapier sold to joint venture between CHI and Stead

The administrators appointed to the Rapier marketing agency announced today that the business has been sold to Rapier Communications, a new company set up as a joint venture between CHI & Partners and Rapier’s former principal shareholder and chief executive Jonathan Stead.

Negotiations over the sale dragged on longer than originally expected. As recently as Tuesday this week administrators Jason Baker and Geoff Rowley confirmed our earlier report that negotiations with Stead and “his business partners” were continuing but that no sale had been finalised (see Rapier administrators still in negotiations with potential buyers).