Home > News > EMEA >  Omnicom Acquires Majority Stake In UK Firm Portland 

Omnicom Acquires Majority Stake In UK Firm Portland

EMEA, Global

Holmes Report 12 Apr 2012

LONDON--Omnicom Group has acquired a majority stake in UK public affairs agency Portland. 

Portland's senior management team, lead by founder and former Tony Blair aide Tim Allan, will retain a "significant stake" in the business, according to an Omnicom statement.

Portland has grown into one of the UK's leading lobbying firms during its 11-year history, and also operates smaller offices in Nairobi and New York.

“In a PR market that’s been hit hard by the recession, our growth and this significant deal buck market trends and that’s a testament to our outstanding team,” said Allan in a statement. “Looking back at where it all started 11 years ago with me and a laptop, it’s fantastic to be announcing a deal of this scale and to be planning the next chapter of Portland’s growth.

Reports suggest that Omnicom's investment values Portland at £20m, which would represent a surprisingly high multiple of its £1.35m profit in 2010. The firm earned revenues of £6.7m in the same year.

SI Partners advised Portland on the deal. It is understood the firm was previously in talks with Publicis Groupe and FTI Consulting.

Omnicom will now combine Portland with its existing g+ Europe public affairs network.

Peter Guilford, co-founder and executive chairman of g+ europe, said: “The combination of g+ europe in Brussels, Paris and Berlin and Portland in London and New York will be a force to be reckoned with in the international communications market. g+ europe and Portland have already worked successfully together on many projects and I’m confident this deeper partnership will achieve great things for our current and future clients.”

Category : General

Tags : Mergers and acquisitions

comments powered by Disqus




Michael Bassik @Michael Bassik

RT @MDCPartners: .@AllisonPR and @HunterPR earn top spots in the @holmesreport's annual ranking of creative excellence. http://t.co/PlB1srT…

11 minutes ago ReplyRetweetFavorite
Dell Services @Dell Services

Karen Quintos from #Dell included in 2014 Innovator 25 http://t.co/hBIVr60ZPY @holmesreport

16 minutes ago ReplyRetweetFavorite
Arun Sudhaman @Arun Sudhaman

RT @holmesreport: Olson Acquired By DC-Based Professional Services Firm ICF http://t.co/MXx8z1isk0 http://t.co/uh1hmI33gj

1 hour ago ReplyRetweetFavorite
Arun Sudhaman @Arun Sudhaman

RT @holmesreport: Edelman China Leadership Reshuffle Sees Sanjay Nair Expand Duties http://t.co/Jgmai5HJdJ

1 hour ago ReplyRetweetFavorite
Pierre Mercier @Pierre Mercier

RT @LorenzStrobbe: @Buzzfeed A tweet contain 120 points of #data. Companies need to find more sophisticated ways to derive intelligence htt…

1 hour ago ReplyRetweetFavorite
Carmen Baez @Carmen Baez

RT @holmesreport: FleishmanHillard Partners With In Press To Enter Brazilian Market http://t.co/1I9V25xEj0 http://t.co/LlUFSJMnFv

1 hour ago ReplyRetweetFavorite
RSS | Join Facebook Twitter Linked In

Agency Directory

Search by Clients