Refinery, Inc.: SOLD!
Friends and longtime readers know that I co-founded a strategic web design and development company, Refinery (ne Image Refinery Productions) a dozen years ago, that I was an executive there until my career change a few years ago, and that I remained a significant shareholder and occasional board member.
Well, after months and months of behind the scenes efforts, I and my partners have sold the company. As the flurry of press releases and news articles linked to below correctly indicate, Refinery has been purchased by G2 Worldwide, a part of Grey Global Group, and a subsidiary of WPP, and will become a part of G2 Interactive. (Yeah, that's a little complicated, isn't it?)
Of the eleven shareholders, most of us have moved on to other occupations already. I can't and won't discuss the particular terms of the deal, so don't ask. Just know that I am very, very happy with the little company we started a year too early, and that I wish its new owners all joy and blessings as they take it into the future.
For more info, here's AdWeek's news article on the sale:
"Grey's G2 Adds Digital Shop Refinery"
And here is the press release from Refinery's new owner, G2, on the matter:
"G2 Worldwide Acquires Digital Agency Refinery in North America"
And here is the press release from WPP (ticker WPPGY), G2's owner:
"G2 acquires digital agency Refinery, Inc. in US"
Associated Press incorrectly calls Refinery an ad agency:
"WPP's G2 Buys Ad Agency Refinery"
I cannot begin to express what a relief it is to have the majority of all the sale-related business finally done with and no longer taking up time and emotional energy, and my involvement in the process was nothing compared to those of my fellow shareholders who were on the board for all this.
Don't get me wrong: all the distractions and lost sleep and awkward secret keeping nighttime conference calls were TOTALLY worth it in the end. This is a very exciting week for me.
Now I can just focus exclusively on all the cool stuff happening in my ministry going forward...
Life is good.