Whiteoaks confirmed it had paid an undisclosed sum for the smaller Soho agency. The deal was overseen by Whiteoaks founders and board directors Gill Craig and Bill Nichols and also Richard Hewitt, the founding director of Profile.
The board of the merged entity will include a representative of Northern Ventures, the VC firm that backed the launch of Profile and has now taken a stake in the merged firm.
Craig stressed that White-oaks' founders had retained a controlling interest in the firm and that the deal gives Whiteoaks access to capital through Northern Ventures to fund its expansion plans.
