Product category:
Integrated marketing
News Release from: Engine Group
Edited by the Marketingservicestalk Editorial
Team on 07 March 2008
Engine buys Hogarth to boost stakeholder
comms
Engine, the UK's largest privately owned integrated communications group, has acquired 100 per cent of the share capital of Hogarth Partnership, the leading financial and corporate PR consultancy.
Financed through a mix of cash and Engine shares with no earn-out, the acquisition provides a platform for the continued development of Hogarth's business in the Engine Group, while entirely retaining the integrity of the company's brand, structure and management team The partners, together with a number of other senior directors, will all become Engine shareholders as a result of the deal
This article was originally published on Marketingservicestalk on 5 Mar 2007 at 8.00am (UK)
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Hogarth will enhance Engine's stakeholder communications offer alongside Mandate Communications, itself the result of a recent merger of public affairs specialist AS Biss and corporate PR consultants Republic PR.
The acquisition reinforces Engine's ability to deliver integrated corporate, financial, public affairs and stakeholder communications campaigns to major public, private and government organisations and agencies.
Combined, Hogarth and Mandate will account for around 15 per cent of Engine's total net income.
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Chris Matthews, Joint Managing Partner of Hogarth, said: "We are very excited by the prospect of joining the Engine Group.
"Peter Scott and his team have created the UK's most successful and dynamic independent and multi-disciplinary marketing communications groups.
"In recent years, an increasing number of our clients have sought a broader mix of services including public affairs and corporate and B2B PR, and we look forward to working closely with colleagues at Engine, and with the Mandate team in particular, to deliver this where it is required".
John Olsen, Joint Managing Partner of Hogarth, added: "Engine fully recognises the strength of the Hogarth culture that has been so important in our success to date, and of which we are very proud.
"Central to this has been a clear understanding of what each individual client does and does not need, and an absolute focus on delivering high quality and independent advice to those clients, through a senior and stable team of highly experienced professionals.
"This will continue to be at the heart of Hogarth's approach going forward".
Peter Scott, Chief Executive of Engine, said: "Our intention is to build a high-quality, broad-based group of consultancies who are outstanding in their own specialised disciplines and, by working together in a group designed to deliver an integrated service in terms of people, systems and process, can deliver a truly unified offering to clients as well as individual solutions.
"We have highlighted our corporate and stakeholder capabilities as a strategic part of our future growth.
"Central to this has been the search for a financial PR consultancy responsive to Engine's working model.
"Our desire is to acquire entrepreneurial businesses in a way that engages the management team and retains the spirit of owner-management while providing the support and backing of a GBP60 million, 600 people strong independent group.
"We have got to know the Hogarth partners slowly over the past two years.
"We understand each others' purpose and how, in joining us, Hogarth can work with other Engine companies to deliver against the needs of our current and future clients." Hogarth was established in 1997 by six founding partners, all of whom will continue with the company.
With over 80 retained clients, Hogarth has built a strong reputation for providing high-quality, senior-level advice on financial PR and corporate reputation to UK-based and overseas clients.
Some two-thirds of Hogarth's clients are quoted companies, with the balance being privately owned entities and partnerships.
Of the latter, many are in the financial and professional services sectors.
In 2007, Hogarth achieved revenue growth of over 25 per cent, was ranked sixth by number of FTSE250 clients, advised on transactions valued at over GBP5bn, and was ranked in the top 10 for transactions advice both in the UK and Europe.
The Engine Group is one of the UK's fastest growing integrated communications groups and the largest privately owned marketing services group in the UK.
Formed in 2005, Engine has evolved through a strategy of organic growth and acquisition.
Hogarth joins a well-established group of 11 stakeholder and marketing services consultancies, which are: Mandate (corporate and stakeholder communications), Slice (consumer PR), WCRS (advertising), Dave (creative business consultancy), Woo (brand activation), Huge Entertainment (digital entertainment), Karen Earl Sponsorship (sponsorship), Altogether (digital), Digital Public (public sector service design and launch), Partners Andrews Aldridge (direct) and Fuel (data analytics).
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