Huntsworth PLC has acquired the Creative Engagement Group Ltd from funds managed by private equity investor Lloyds Development Capital Ltd and the company’s management for £24.7 million.
The public relations and healthcare communications firm Huntsworth will fund the acquisition through its existing cash resources, and expects the acquisition of the Creative Engagement Group to add to earnings in its current financial year.
Creative Engagement Group Chief Executive Officer Russ Lidstone and Chief Operating Officer David Sharrock will remain in the business.
“TCEG is a great company with a wealth of talent and blue chip clients which will benefit from Huntsworth’s reach and connections especially in healthcare. With more and more clients seeking to engage both employees and customers with powerful experiences, TCEG is well positioned for future growth,”said Huntsworth chief executive officer, Paul Taaffe.