Find SVP buyout makes Walke CEO

NEW YORK: David Walke has made good on his statement to PRWeek two

months ago: He left Morgen-Walke, the IR firm he cofounded 19 years ago,

claiming he intended to pursue a then-undisclosed "entrepreneurial

dream."



And last week, a Walke-led investor group made a partial takeover of

Find/SVP, a publicly traded research and consulting service. Walke has

been named CEO of the operation.



"It's a professional services company with a number of similar business

strategies (to Morgen-Walke) - a diverse set of clients, and

retainer-based programs," said Walke.



Walke and partner Martin Franklin bought 2.5 million shares of Find/SVP

for dollars .80 per share. They also bought all of the 2,688,363 shares

and 422,222 warrants held by SVP, SA, and SVP International (the

company's largest shareholders), for the equivalent of dollars .80 per

share.



Franklin was named chairman of the board of directors. Andrew Garvin,

founder of Find/SVP, will continue as president and a director.



Find/SVP's stock gained more than half a point the day of the

announcement, but closed at its opening price. The following day, the

stock closed up .03 at dollars .83.



Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Would you like to post a comment?

Please Sign in or register.