Print Published in 2006

Buyout bonanza at Bray Leino

David Morgan: now chairs Mission

For someone to sell the same business twice would be indicative either of above-average financial acumen or of simple absentmindedness. To sell the same business no less than three times seems pretty remarkable. But that is exactly what 59-year-old west country advertising agency entrepreneur David Morgan (opposite) has done.

Morgan co-founded Bray Leino in its present form with Christopher Lawrence in 1978. Since then he has sold it to Delaney Fletcher Delaney (which had a series of subsequent owners and is now part of Creston trading as Delaney Lund Knox Warren & Partners), to DVC Holdings UK (part of the US-based Worldwide marketing group), and most recently to AIM newcomer The Mission Marketing Group.

On each occasion Morgan has banked a useful sum of cash, accumulating gains to date of an estimated £9 million. It is a story of opportunism and good timing, and is available in full to subscribers only.