BWM founders buy back the agency for $7.5m

The bosses of BWM have bought the agency back from Enero, which rebadged from Photon earlier this year.

The move comes a few weeks after the agency management categorically denied having plans to do so.

BWM – founded by Rob Belgiovane, Paul Williams and Jamie Mackay – lost its biggest client Telstra about a year ago.

When Enero boss Matthew Melhuish presented his new strategy earlier this year, BWM was barely mentioned, which triggered speculation that the founders might try to buy Enero’s 51% stake back. The stake has cost the trio $7.5m – almost exactly what they were reportedly paid in 2006. Details of any outstanding buyout payments to the trio were not given.