Nicky Unsworth is the latest interviewee in our series of features where we ask our talented team of non-execs a few brief questions about how they got to where they are and what they believe they can offer our growing pool of ambitious agencies.
Ask our non-execs: Nicky Unsworth. Nicky led the MBO and subsequent sale of BJL to Dentsu
Hello Nicky and thanks for agreeing to be interviewed . You bring brand marketing experience as well as agency experience to our panel of NXDs Nicky. You started out in-house marketing - what prompted your move from gamekeeper to poacher when you opted to join BJL
I was sponsored by Pilkington for my Business degree (specialising in marketing), so I naturally started on the client side. Moving to an agency was about broadening my experience and allowing me to focus more on the strategic and communications aspects, which particularly interested me.
Once I joined an agency, I felt I had found my home: applying creativity to deliver commercial solutions, working with a portfolio of clients, and being inspired by the dynamic mix of people typically found in agencies all combined to create the perfect work environment for me.
Were you able to transpose in-house skills to the agency world and if so, what were they
Absolutely—I learned a great deal as a client. Starting client-side gave me a clear understanding of client priorities and the breadth of challenges they face. Often, communications are just a fraction of their responsibilities, whereas in an agency, it’s tempting to think it's the be-all and end-all.
This background probably explains why I’ve always had a strong commercial focus. I’m naturally drawn to the business side, and my early client-side experience provided a solid foundation in commercial thinking. It also shaped my results-driven mindset. Winning awards and industry recognition is great, but the most
important measure of success is delivering results—both for the client and the agency.
You joined as an account person and rose steadily through the agency including two key positions leading an MBO and subsequently a trade sale. Can you summarise the roles you played in this transformation.
Any major transition requires a team effort and the right people in place. I was keen to have my own business and played a key role in leading and delivering the MBO. I worked closely with external financial and legal advisors to lay the foundations and helped establish the financial infrastructure to make it happen. Beyond that, I was deeply involved in guiding the agency through its next phase of growth.
When it came to the trade sale, I was the instigator and lead. Once we had a deal on the table, the priority was assembling a strong team of specialists—including external advisors—and ensuring that key senior figures were split between maintaining “business as usual" and managing the sale process.
Keeping the business running smoothly during a transition is critical but challenging. Selling a business can put you under pressure for over a year, yet you still need to hit budgets and deliver for clients.
Deals can be fragile: priorities shift, clients face unexpected challenges, external market conditions change, the economy fluctuates, key metrics drift, or the acquirer and agency become misaligned during negotiations. It’s crucial to adapt to these shifting dynamics and control what you can. My role was to lead the team, manage the transition, and keep us aligned with our acquirer while maintaining business performance. It’s an energising process that demands tenacity, resilience, and a balance of optimism and realism!
And any insight, scars or experiences you learnt on your journey/s
No real scars (I’m resilient!) but lots of insights.
- Surround yourself with great people – Success is rarely a solo journey. The right team and advisors can make all the difference - and it’s more fun when you’re working with the right people.
- Balance long-term vision with short-term agility – You need a clear vision, but things change. Being adaptable while staying true to core goals is key.
- Never underestimate the emotional side of leadership – Leading through change (MBOs,acquisitions, transitions) is not just financial and strategic; it's also about people, relationships, and emotions - even more important in a people based business.
- Data and instinct both have a role – Numbers drive decisions, but gut instinct—honed through experience—is important.
And a few lessons maybe rather than scars
- Transitions take longer and are harder than you expect – MBOs and sales can be intense, draining, and require relentless focus. Keeping the business running while managing a deal is one of the hardest balancing acts.
- Not every opportunity is the right one – There are times when it is right to say no to growth opportunities if they don’t align with your strengths or vision.
- You can’t please everyone – Change, especially in leadership and ownership, creates uncertainty. Some people adapt better to change than others, and some will always resist.
- Managing burnout is critical – High-growth phases, transactions, and leadership challenges can take a toll. Prioritising personal resilience is as important as business resilience.
- The deal isn’t done until it’s done – deals are often unpredictable - you need patience, adaptability, and the ability to hold your nerve!
You were one of three exec directors but running a business can still be lonely. How did you reach out for advice when you felt it could be useful.
We worked well together as an internal team, but I also valued external perspectives—it’s important not to operate in an echo chamber. When you work with the same people for a long time, you can start to think alike!
I relied on NEDs for wisdom, counsel, experience, and challenge.
I was also actively involved in Tribe Global (as a founder and later Chair for many years), and I found conversations with other agency owners invaluable.
Industry bodies such as the IPA, MPA, and NABs provided access to peers, fostering discussions that helped me differentiate between industry-wide challenges and BJL-specific ones.
The word is that BJL regularly received acquisition offers. Why did you decide that Dentsu was ultimately the right fit at the right time.
We had approaches over the years, but Dentsu was the right fit for several reasons:
- Their offering complemented ours. We saw a future where creativity, supercharged by media and data, would be crucial for clients and would help us maintain a competitive advantage.
- They added value—providing media insights, industry reports, research, and access to new markets.
- They offered career progression opportunities for many of the BJL team.
- Geographically, they opened up new possibilities.
- Ultimately, we liked and respected the people, and the timing was right.
BJL made one acquisition under your leadership. How did that go, are there any lessons you can draw that you can share and why did you decide not to make further acquisitions.
We were primarily focused on excelling in what we did rather than pursuing acquisitions. The one acquisition we did make was driven by the need to bring a new skill set in-house—PR, which later expanded to include social media. We believed acquiring an established capability would allow us to integrate this expertise more quickly than building it organically.
Ironically, in my NED role now, I’m able to take a more strategic, high-level view and would likely be more open to M&A. But at the time, acquisitions weren’t a core pillar of our business strategy.
Building, managing and ultimately exiting an agency requires several different skill-sets. What advice can you share with ambitious marcomms bosses who also seek to grow and sell their businesses
- Have a vision and a plan. Circumstances evolve, but you need a shared vision that aligns and motivates your team.
- Break the plan down into tangible focus areas. We concentrated on four key pillars:
- People: Recruit and develop the best talent, ensure cultural fit, empower them, and foster collaboration.
- Product: Define a strong, competitive value proposition, then build a world-class offering.
- Clients: Maintain an active acquisition and retention strategy.
- Commercials: Have a solid growth-focused business plan, understand key KPIs, and let them guide decision making.
Now you've embarked on a portfolio non-exec career, what type of companies/agencies are you ideally seeking to work with and what are the specific plus points that you believe you can add to their management teams
Having led two major transitions—an MBO and a trade sale—I bring hands-on experience in helping build up to a transition and then navigating change. I’m best positioned to support businesses that are scaling, evolving, or preparing for a strategic shift, whether that’s growth, acquisition, leadership transition, or exit planning. I typically focus on five key areas:
- Growth – Helping businesses scale sustainably and profitably.
- Transition – Working with leadership teams through MBOs, acquisitions, or restructuring.
- Team Development – Building strong leadership teams and fostering a high-performance culture.
- Commercial Strategy – Ensuring financial and operational decisions align with long-term goals.
- Industry Profile & Positioning – Elevating a business’s market presence to attract the right clients, talent, and opportunities.
Ultimately, I add value by combining strategic clarity with practical execution—ensuring businesses don’t just have a vision, but a clear plan to make it happen.
Thank you Nicky
