LONDON—Lord Peter Chadlington’s Huntsworth, parent company of Trimedia, the Global Consulting Group, Hudson Sandler and several other PR consultancy brands, has acquired Eurotandem SAS, an independent public relations consultancy based in Paris. Eurotandem’s operations will be merged with those of Trimedia France.
Eurotandem was founded in 1990 and employs a team of 25 offering corporate, technology and consumer public relations. Current clients include BT, Ask Jeeves, Opodo, Computacenter and Tourism Australia. For the year ended December 2004, Eurotandem had gross revenues of €2.7 million (£1.9 million) and profit before taxation of €1.0 million (£0.7 million).
Huntsworth will acquire the entire share capital of the company for an initial consideration comprising cash of €4 million (£2.8m) and the issue of 1,469,455 new ordinary shares of 50p each in Huntsworth. Further payments are dependent on the future financial performance of Eurotandem and will be payable in cash or shares, at Huntsworth’s discretion to a maximum of €8.65 million (£6.0 million).
According to Trimedia chief executive Michael Murphy, “Trimedia France has been performing very well but we did not have sufficient scale in the important French market place compared with our operations in other European countries. The combination of Trimedia France and Eurotandem will take us immediately to the number five position in the French market place”.
Huntsworth also operates in France separately under the Citigate Dewe Rogerson brand.