Incepta close to deal with Dewe Rogerson

Incepta Group is expected to announce the acquisition of Dewe Rogerson for a price of around pounds 26 million early next week ending several years of speculation over potential buyers.

Incepta Group is expected to announce the acquisition of Dewe

Rogerson for a price of around pounds 26 million early next week ending

several years of speculation over potential buyers.



Incepta, which owns rival financial and corporate PR firm Citigate

Communications, has been in talks with the directors of

independently-owned Dewe Rogerson for several weeks. The only issues

left to be resolved are the roles of senior Dewe Rogerson executives in

a proposed merger of the the two operations.



The merger of Citigate and Dewe Rogerson will create an agency with

combined fee income of around pounds 24 million based on PR Week’s 1998

Top 150. This would make it the second-largest PR agency behind

Shandwick in the UK.



Dewe Rogerson’s major shareholders Roddy Dewe and Nico Rogerson are

expected to retire if a deal goes ahead but Incepta is keen to offer key

roles to the agency’s executive chairman Tony Carlisle and fellow

directors Cary Martin and Kevin Soady.



It is thought that any deal would involve a mixture of cash and Incepta

shares in order to tie Dewe Rogerson directors to earn-outs.



Day-to-day running of the newly-merged PR operation is expected to fall

to Citigate’s chairman Jonathan Clare and Martin. Citigate’s chief

executive Simon Brocklebank-Fowler has left the agency and is currently

on gardening leave and negotiating a severance settlement.



Carlisle and David Wright, Incepta chief executive, were unavailable for

comment.



Dewe Rogerson had a higher fee income than Citigate in 1997 with pounds

13.1 million compared to Citigate’s pounds 11.4 million. The two

agencies both handle financial and corporate PR for UK clients but Dewe

Rogerson has traditionally been stronger on international privatisations

and mergers and acquisitions.



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