Leeds marketing company set to top £10m turnover after acquisition
Guiseley-based Tebays, which was established over 40 years ago, works with the likes of Bupa, Fiat, Jet2.com and Morrisons. It has shareholders' funds of over £1m, according to its latest reported accounts to the end of July 2016.
Resource, which was founded 20 years ago, employs over 50 staff and turnover for the combined business is expected to exceed £10m.
The deal was funded by a seven-figure package from Barclays.
Phil Thompson, managing director at Resource, said: “We’re delighted to welcome the team at Tebays into the Resource group and we’re looking forward to aligning our operations to deliver great value and enhanced services for our clients.
"Both businesses have complementing services incorporating specific areas of expertise. The combined synergies will benefit both our respective client bases and workforces, whilst creating a fantastic foundation to support the future growth of the group.”
Frazer Barrs, Barclays relationship director, said the acquisition was a "significant and pivotal milestone for the future of Resource".