M&C Saatchi hires Tulchan for planned AIM listing

Advertising agency M&C Saatchi has brought in Tulchan Communications for its planned £75m flotation to fund further European expansion.

Tulchan founder Andrew Grant and consultant Kate Inverarity are leading the account, which is dedicated to financial communications around the planned listing on London’s alternative investment market (AIM).

A listing of between 20 and 30 per cent of the company is planned, giving M&C Saatchi a potential market value of £80m. The company has hired Lehman Brothers as banker for the deal.

M&C hopes its stock market offering will raise £10m in new money to fund start-up operations in France, Germany, Spain and Italy.

M&C partner Bill Muirhead said the flotation was still hypothetical but the listing would take place some time before the summer if market conditions proved favourable.

Although the majority of the new Saatchi shares will be divided among financial institutions, Muirhead and M&C’s other founding partners – Charles and Maurice Saatchi, Jeremy Sinclair and David Kershaw – will

retain majority control.

M&C was founded in 1995 after the Saatchi brothers broke away from Saatchi & Saatchi, the business they set up in the 1970s.

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