Private Equity Fund Acquires DF King and M Communications
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Private Equity Fund Acquires DF King and M Communications

Sage Holdings, a private equity funded holding company founded in June of 2007 to build a global financial communications agency, has acquired D.F. King and M: Communications, the London-based financial public relations firm.

Paul Holmes

NEW YORK—Sage Holdings, a private equity funded holding company founded in June of 2007 to build a global financial communications agency, has acquired D.F. King, the global proxy solicitation firm, and M: Communications, the London-based financial public relations firm led by Financial Dynamics veterans Nick Miles and Hugh Morrison, for an investment of $180 million.

 

Together, D.F.King and M:Communications provide proxy solicitation, corporate governance advice, financial communications, investor relations, and strategic consulting services to more than 800 clients in over 30 countries.

 

Sage says it will make further complementary acquisitions in each of the world's major financial centers and plans to attract teams and individuals in relevant business areas. Disciplines targeted for expansion include communications consultancy, investor services and investor communications. The company is led by Oliver Niedermaier, formerly CEO of Georgeson, with the backing of The Riverside Company, a specialist mid-market private equity firm. Niedermaier will be the president and CEO of Sage and will be joined on the executive board by Peter Harkins of D.F.King and Hugh Morrison and Nick Miles of M.

 

According to Niedermaier, “Sage will address the needs of clients across geographies in communicating with stakeholders, including investors and the media. The globalization of stock exchange activity and the internationalization of corporate governance standards, along with increased levels of shareholder activism, demonstrate the need for a global provider of financial communications and shareholder management. D F.King and M:Communications will form the cornerstones of the Sage Holdings family.”

Morrison and Miles say the acquisition “is a compelling opportunity and creates a real growth platform for the business. Sage gives us the resources and the currency to accelerate our growth and expand our geographic remit as we attract and develop the most exciting pool of talent in our industry. We have created a value pool—accessible to our current staff and future joiners—by exchanging our stake in M: for a very significant financial interest in a well-financed and much larger construct with ambitious plans.”
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