YFM, which invested in the management buy-out of Fishawack two years ago, contributed an additional £600,000 from its Chandos Fund and British Smaller Companies VCT to support the purchase of Philadelphia-based Nexus Communications.

Oliver Dennis, principal founder of Fishawack, comments, ‘This is the logical next step for both businesses and gives Fishawack a strategically vital presence in the USA that will better equip the company to support its US-based clients.’

Michael White, investment director at YFM, says the move is ‘the first step in a buy-and-build strategy’ to create ‘the leading independent medical communications agency in the UK’.

Fishawack’s clients include GSK, Bio and Pfizer.