Porta has paid £1,795,000 in a combination of cash and shares for 51 per cent of the agency, which made an operating profit of £600,000 in its last financial year.
It will buy the remainder in three tranches over the next three years, during which the two sides hope Redleaf Polhill will be boosted by Porta’s international network.
Kane said this was one of the selling points of the deal, together with the agreement that Redleaf Polhill will retain its brand and operational independence.
Redleaf Polhill was created in 2010 when financial and professional services PR agency Redleaf, founded by Kane in 2000, acquired financial PR agency Polhill, founded by Polhill in 1990.
Redleaf Polhill sells to Newgate owner Porta for seven-figure sum
Redleaf Polhill shareholders Emma Kane, Ian Rosenblatt and Julian Polhill have sold their agency to Porta Communications, netting a sum likely to be greater than £2m over time.
