SEC S.p.A Completion of Acquisition (9194C)
21 April 2017 - 4:00PM
UK Regulatory
TIDMSECG
RNS Number : 9194C
SEC S.p.A
21 April 2017
20 April 2017
SEC S.p.A.
("SEC" or "the Company")
Completion of Acquisition
SEC, the largest independent advocacy, public relations and
integrated communications agency in the Italian market, is pleased
to announce that it has completed the acquisition of Martis
Consulting further to the statement released on 22 December
2016.
Martis Consulting has a strong track record in public and
corporate affairs in Poland and throughout Europe. Its specialist
consultants work in a range of sectors including oil and gas,
energy and environment, financial services, healthcare, housing,
justice and legal, as well as property development and transport.
Revenues for the year ending December 2016 were EUR 1,442,530
(unaudited) with profit before tax of EUR 223,689 (unaudited).
The consideration, for 60% of the issued share capital of Martis
Consulting, comprises a completion cash payment of approximately
EUR 1.1m. The acquisition was conditional on the spin-off of a
property, securities and bank loans which have duly been completed.
Martis Consulting will continue to be run by existing management
who retain equity in the ongoing business and are incentivised to
deliver strong growth.
As outlined at the time of IPO, SEC continues its acquisition
strategy as it develops an integrated marketing services business.
This acquisition follows on from its recent transactions in
Brussels and the UK as both the brand and offering strengthens
throughout Europe. Further acquisitions in new territories are
anticipated in the coming months to increase its position in
becoming a leading PR and advocacy business in Europe.
Fiorenzo Tagliabue, CEO of SEC, commented: "We are delighted to
have completed the acquisition of Martis which is a quality
business with outstanding staff. It is one of the top five largest
PR businesses in Poland with a strong corporate and public affairs
offering. This acquisition complements our stated strategy of
building a substantial international business with incentivised
management whilst maintaining the essential culture of each
individual business. We anticipate further earnings enhancing
transactions this year and we will update the market on progress in
our full year results in early May."
For more information:
SEC S.p.A Telephone: +39 335 6008858
Fiorenzo Tagliabue (CEO)
WH Ireland Telephone: +44 207 220
Paul Shackleton 1666
Nick Prowting
IFC Advisory
Graham Herring Telephone: +44 203 053
Tim Metcalfe 8671
Miles Nolan
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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