Teneo acquires London's Pendomer Communications

Teneo has acquired Pendomer Communications as it continues to expand in the UK and Europe.

Pendomer's senior management remain in place and will report to Teneo's Charles Watson
Pendomer's senior management remain in place and will report to Teneo's Charles Watson

Teneo, which is headquartered in New York, also acquired Blue Rubicon and StockWell in July, making financial and corporate comms agency Pendomer its third UK acquisition.

Pendomer was founded in 2012 by Charles Armitstead and Ben Foster, former managing directors at what is now FTI Consulting. Clients include Virgin Active, Pizza Express and Heineken, the latter since 2013.

Pendomer employs seven people, meaning that Teneo will have more than 200 professionals in London. It will initially retain its own brand before being integrated "in due course", a spokeswoman for Teneo said. Its leadership will report to Teneo International chairman Charles Watson.

Terms of the transaction were not disclosed.

Declan Kelly, chair and CEO of Teneo, said: "We have known the team at Pendomer for many years and respect the way that they have built a successful, highly profitable business from a standing start. Their entrepreneurialism, innovative approach and hugely respected advisory capabilities will help to significantly accelerate our ambition to expand rapidly in the UK and across Europe."

Armitstead, managing partner of Pendomer, said the deal was "an incredibly exciting opportunity for us and for our clients", adding: "We look forward to contributing to Teneo's success and helping to take the business forward."

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Would you like to post a comment?

Please Sign in or register.