The new acquisition will be integrated into College Group’s existing German operation Stockheim Media. The deal will expand the firm’s presence to a third German office in Munich (the others are in Cologne and Frankfurt) and increase the number of employees to 45.
Richard Nichols, chief executive of College Group, commented: ‘This acquisition is an important element in our growth strategy and reflects our plans for further acquisitions of specialist businesses in key global financial centres and markets.’
Haubrok has built a strong track record in the German financial PR market since 1990, including handling more than 50 IPOs.
Axel Haubrok, CEO of Haubrok AG, said that College Group was ‘internationally respected’ and that the deal would ‘provide our clients with an extended range of services and expertise’.
The deal marks the second major acquisition for College Group following last year’s investment from private equity firm Vitruvian Partners. Vitruvian bought a majority stake in the business in October 2011, valuing the firm at about £45m.