SPA Future Thinking Buys The Munro Group
UK-based full service agency SPA Future Thinking has acquired the Munro Group, the parent of research agencies FDS International, Maven Research, M-Lab, and 3000ft Strategic Insight. Terms of the deal were not disclosed.
SPA was acquired last year by private equity firm Next Wave Partners and merged with Future Thinking (formerly known as TORA), in which Next Wave holds a 60% stake. This latest acquisition has been funded by Next Wave, with support from the group's existing shareholders.
Munro, which was formed in 2006, last year sold its acefieldwork arm to Chime company Facts International, to enable it to focus on its core insight and consultancy operations.
The latest acquisition will create a group with a turnover of approximately £20m, and a staff of more than 150. It will also add benchmarking, mystery shopping research, employee engagement and online dashboard reporting to SPA Future Thinking's mix of services.
Munro will be incorporated into the SPA Future Thinking brand, with Munro Global's CEO Richard Hepburn joining the group's Board. Charlotte Cornish, who is currently MD of FDS and COO of Munro, will leave the business after a short handover period.
'FDS and Maven bring a wealth of expertise to our offer, with a client portfolio that complements our own strengths in our core digital, financial, FMCG, media and retail sectors,' states Jon Priest (pictured), Group CEO of SPA Future Thinking. 'The acquisition broadens the range of market leading services and expertise we provide our clients and provides superior career opportunities for our people both in the UK and overseas.'
Web sites: www.spafuturethinking.com and www.munroglobal.net .