RALEIGH, NC: PR and public affairs specialists Capital Strategies last week announced plans to acquire the Marketing Communications Group of FGI, a Chapel Hill, NC-based research and marketing company.
RALEIGH, NC: PR and public affairs specialists Capital Strategies
last week announced plans to acquire the Marketing Communications Group
of FGI, a Chapel Hill, NC-based research and marketing company.
With the acquisition, Capital will triple in size, from dollars 1.6
million in revenue and 18 employees to dollars 5 million in revenue and
President Ken Eudy, who adds the title of CEO, said the deal makes the
agency one the larger - and possibly the largest - North Carolina-based
While he would not disclose the cost of the FGI unit, Eudy said the deal
was for stock. The acquisition, which is Capital’s first, will be
completed by the end of the year.
’Our clients have been making inquiries about brand-positioning,
identity and design capabilities,’ said Eudy. ’We have been very strong
in PR and public affairs, but we really needed to add marketing.’
Eudy, who held the post of VP of PR for FGI 10 years ago, said talks
only became serious over the past two months. The firms have worked
together in the past, and kicked off a project for the North Carolina
State Library in July.
Eudy cited only two client conflicts that result from the acquisition:
Capital clients Blue Cross and Blue Shield of North Carolina and Central
Carolina Bank, and FGI clients QualChoice (an HMO) and Triangle
Since Triangle Bank is merging with Centura, Eudy said that business was
likely to be lost anyway. FGI MD Karen Albritton will lead the marketing