Stephen McCranor and Keli Mitchell have acquired Frame Group, the Glasgow-based communications agency, in a management buy-out.

The pair have been joint managing directors since 2019, have acquired a majority stake in the company under a deal that has seen the exit of Gary O’Donnell and Angus Walker who acquired the business from its founder Alan Frame in 2008.

Roslynn Mackay, who held a minority shareholding, has also left.

The MBO, completed for an undisclosed sum, comes nearly a decade after Mr McCranor, formerly director of communications at Greaves Sports, joined forces with Frame to launch a consumer public relations business in 2014.

It was created as a joint venture between the existing Frame advertising agency, Mr McCranor, and Charlotte Street Partners, the Edinburgh-based communications consultancy.

Both the Frame advertising and PR businesses are now 100% owned by Frame Group

Charlotte Street Partners will remain a “significant minority shareholder” in Frame Group further to the deal.