Four Communications Group (Four) has acquired financial and professional services PR agency Broadgate Mainland, the parties have announced.
Following the deal Broadgate will be rebranded as Four Broadgate and will focus on the delivery of communications programmes within the specialist areas of financial services, professional services and education.
In its current form Broadgate represents global brands including GAM, Baillie Gifford, Durham University Business School, St James’s Place Wealth Management and Woodford Investment Management. Combined fee income after the acquisition is expected to be more than £20 million in 2015.
Earlier this month Four secured a £10m investment from the Business Growth Fund (BGF) and this is the first acquisition it has made since then.
The company has experienced rapid growth over the past four years, doubling turnover from £15m in 2010 to over £32m in 2014, a record-breaking year for the agency. It is expected to increase this again by over 20% organically in its current financial year ending December 2015.
Four chairman Nan Williams said the expertise of Broadgate will “really bolster our existing offer within the financial & professional services and education sectors”.
“This is just one of a series of acquisitions we will be announcing over the coming year as we surge ahead with our growth ambitions and expansion plans for the UK, Middle East and South East Asia,” she continued.
Broadgate director Roland Cross added that “the integrated approach at Four” makes them an ideal partner.
“As part of Four we can offer existing and prospective clients an enhanced service and have a strong platform to continue the growth of the business in the future, he said.
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