ICM in management buy-out

International Creative Management, which works in partnership with Curtis Brown, has been bought in a management buy-out.

ICM’s management bought it from private equity firm Rizvi Traverse Management, which acquired a controlling interest in the company in 2006. ICM’s London office merged with Curtis Brown in 2008 when Curtis Brown took on UK and international representation of ICM’s list.

According to the Los Angeles Times, the buy-out will allow agents at ICM to invest in the business. ICM’s president Chris Silbermann and chairman Jeff Berg sent an email to its staff saying: "Our primary objective always has been to remain highly competitive as we turn to the next generation of leaders at our agency. We are confident this new partnership will position the agency, its clients and employees well for the future," according to the newspaper.