LONDON: Global business advisory firm KPMG has acquired one of the UK's best-known investor relations firms, Makinson Cowell.
The acquisition is one of the most significant moves from one of the Big Four accountancy and advisory firms to grow its presence in the strategic communications sector.
Simon Collins, UK chairman of KPMG, said, "While today's deal is a relatively small acquisition for the firm, it is an important transaction for KPMG. At a time when companies are increasingly looking to ensure advice is independent from the underlying sources of finance, the combination of KPMG's debt advisory business with the equity services provided by Makinson Cowell will create a market-leading independent capital advisory business."
Collins argued that the deal will establish a "unique offering" in the UK marketplace.It is hoped the agreement will provide Makinson Cowell, one of the leading IR specialists in the UK and Europe for more than two decades, with access to additional resources and increase its geographic reach.
Cofounder of Makinson Cowell Bob Cowell added, "For our clients, this move will underwrite the independent model which has characterized our business from the outset and preserve our brand for the future."
Completion of the acquisition is subject to regulatory consent.
This story originally appeared on the website of PRWeek UK, the sister publication of PRWeek at Haymarket Media.