Incepta, the parent of financial PR firm Citigate, has bought
public affairs agency Westminster Communications in a pounds 2.1 million
deal.
The purchase kicks off an acquisitive period for the group, which is
also planning to beef up its PR capability in the US.
Citigate already holds a 21.2 per cent stake in Westminster, but the buy
up allows it to formalise the relationship between the two agencies.
It also means that Citigate can offer its clients a public affairs
service from within its own group - it previously had no public affairs
capability of its own.
Citigate and Westminster are already closely linked on a day-to-day
level, sharing clients including Anglian Water and The Eastern
Group.
The current management of Westminster will remain in place. Richard
Faulkner and Michael Evans will continue as joint managing directors of
the group, which will be renamed Citigate Westminster.
Below group level, Westminster’s three divisions - Westminster
Communications, Westminster Public Relations and Westminster Europe -
will keep their individual identities.
The principal financial beneficiaries are Faulkner and Evans, who
together own 66 per cent of Westminster.
Citigate managing director Jonathan Clare confirmed that the Incepta
Group, which bought Citigate last year, is keen to expand
geographically.
PR in the US has been earmarked as a priority, particularly investor
relations.
