SEC Newgate purchases majority stake in Middle East agency

SEC Newgate has acquired a 70 per cent stake in the Middle East branch of Italian agency Twister Communications.

(Image by Hans-Jürgen Schmidt from Pixabay)
(Image by Hans-Jürgen Schmidt from Pixabay)

Twister Communications' Dubai-based operation will rebrand as SEC Newgate ME.

SEC Newgate will acquire 70 per cent of the firm’s equity for €340,000. The remainder will be held by Twister chief executive Elena Gramatica, who becomes managing director of SEC Newgate ME.

Fiorenzo Tagliabue, chief executive of SEC Newgate, told PRWeek the agency had been negotiating the deal since the end of 2019 and had to postpone its closure as a consequence of the pandemic.

“At that time and today the focus and rationale of the acquisition is to step in a market with huge potential both in the short term, with the Expo in the upcoming months and the football World Cup next year, and, on a longer perspective, a market that is getting increasingly strong and interesting on a global scale,” Tagliabue said.

“In addition, the acquisition allowed us not only to buy an established business and a solid local team, but far more than this to welcome on board a very experienced manager such as Elena Gramatica, who will keep on the lead of the operations and has a strong network of relations in the area.

“Last but not least, the business footprint of SEC Newgate Middle East, the client base and the sector specialisms of these operations, match very well with some of the Group strengths. We expect from this new operation to strengthen our position as a global Group and expand our senior team of local MDs with specific know-how, motivations, [and] visions that play a great role in supporting our distinctive business model to grow globally in the PR industry.”

The acquisition fits with SEC Newgate’s three-year strategic plan (2021-2023) to expand into the Middle East, as well as the US and Far East.

“We are confident we might likely be announcing other operations in the close future,” Tagliabue added.

Gramatica added: "Our partnering with SEC Newgate will allow us to build upon our understanding of the local market and our network of relationships, to serve a wider audience of international clients seeking to develop and invest in the Middle East, especially in our core sectors of luxury, consumer, technology and governmental affairs."

SEC Newgate has about 600 staff working in 37 offices around the world.

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