Interpublic Group of Cos. has completed its sale of R/GA to a management-led buyout group backed by Los Angeles-based private equity firm Truelink Capital. IPG, which had been shopping the digital agency around for over a year, announced the deal Monday morning.
R/GA Global CEO Robin Forbes and Chair and Global Chief Creative Officer Tiffany Rolfe are among those part of the management-led buyout group, according to a joint statement from R/GA and Truelink Capital. R/GA declined to name the other members of the management group. Financial terms of the deal were not disclosed.
The deal comes as IPG prepares to be acquired by Omnicom Group and is planning its own $250 million restructuring.
“This strategic move allows Interpublic to further sharpen our focus on our core strategic offerings,” IPG CEO Philippe Krakowsky said in a statement.