Frank sold for £8 million

Frank PR has been sold to one of Australia's largest communications companies for £8.1 million.

Goodkind: chairman and founder, Frank PR
Goodkind: chairman and founder, Frank PR

The Photon Group provided an up-front cash payment and loan notes, plus deferred payments tied to performance targets.

Frank PR chairman and founder Graham Goodkind said: ‘Photon is a fast-growing young company like ourselves and we feel they are the right partner to expand the business further. We will continue to focus on doing what we do best: bringing our passionate approach to working with clients, creating memorable campaigns and achieving excellent results.’

The Photon Group currently has four companies operating in the UK, including Corporate Edge, market research agencies DVL Smith Group and The Leading Edge, and REL Field Marketing. The group has a total of 30 independent specialist businesses.

Photon executive chairman Tim Hughes said: ‘The acquisition of Frank PR is an excellent launch pad for an entry into the UK’s rapidly expanding specialised communications market. This is our third acquisition in the UK where we continue to look for opportunities.’

Hughes said he was focusing on buying in research, public relations and field marketing sectors, because they were more stable than traditional advertising agencies.

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