CCgroup's management team has successfully completed a buyout.

Led by managing director Richard Fogg and head of telecoms Paul Nolan, the deal includes the London firm’s Reading-based consumer agency, Escapade.

Fogg said: “We’re buying a robust company with an excellent offer – but it’s CCgroup’s phenomenal potential that drove the deal. We’ve already started boosting investment in resources, platforms and personnel to help realise this potential – it’s incredibly exciting.”

On day one, the new owners announced a number of senior promotions. Lynne Goddard becomes managing director of Escapade, with Nicole Littlewood stepping up to associate director. Daniel Lowther takes over as the head of CCgroup’s financial services technology stream. Duncan McKean also joins the senior management team as an associate director.

Media entrepreneur Tim Trotter takes a minor equity stake and assumes the role of non-executive chairman. Ian McCann, the former owner of CCgroup, remains as a client-facing consultant and joins the board as a non-executive director. Paul Nolan becomes a director.