City agency M: Comms secures merger

City agency M: Communications has merged with a private equity backed firm as it looks for funding for further acquisitions.

Hugh Morrison: M: co-founder
Hugh Morrison: M: co-founder

Sage Holdings, which is backed by the Riverside Company, spent £90m on M: and D.F. King & Co, a proxy solicitation firm.

D.F.King forms the larger part of the deal, but the actual value of M: is undisclosed.

'In one sense this gives us a war chest to make strategic acquisitions,' said M: co-founder Nick Miles. He was bullish about the agency's future and said the deal confirmed his and co-founder Hugh Morrison's commitment to the firm.

Miles also said some of the funds would be used to invest in 'new and experienced talent' at the agency.

M: is currently advising Virgin on its approach for Northern Rock

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Already registered?
Sign in

Would you like to post a comment?

Please Sign in or register.