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Shell Firm Seeks MR Acquisitions
UK-based sports consultancy TSE Group is to be converted into an international marcoms business called Porta Communications, which will act as an investment vehicle for buying market research, PR and advertising firms.
The new firm will be led by David Wright, the founder of PR agency Citigate, and former CEO of marketing services group Incepta.
Porta Communications plans to raise £2.75m through the placing of 2.75 billion ordinary shares, with the resulting funds used to acquire talent and companies.
According to an article in The Daily Telegraph, the group has lined up a further £15m to spend on marcoms acquisitions, which the newspaper says are expected to be made in the first half of 2011.
Porta will act as a holding company with individual divisions: a PR arm called Newgate Public Relations which will employ financial, corporate and public affairs specialists; an advertising agency network offering media buying and media bartering; and a market research division.
Wright, who is expected to appoint an initial team of 30, told the paper that his goal is for the new firm's value to approach £50m within two years.
Web site: www.tsegroupplc.com .
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