The management team of Grandfield Public Affairs has staged a
buy-out of the division and will set up as a separate entity in the next
GPA directors Chris Butler and Phil Kelly now wholly own the business
which was established three years ago. Butler said: ’We wanted to move
closer to Westminster. It came to the point where we either continued
under somebody else’s management or took the risk ourselves. We have
negotiated an amicable settlement and will work on joint clients.’
These joint clients include French media group JC Decaux which recently
appointed Grandfield to handle public affairs along with corporate and
financial PR (PR Week, 23 January).
It is thought that the Grandfield management had doubts about the fit of
GPA, which employs four people, with the rest of its business and
instead decided to channel resources into a new financial services
division (PR Week, 13 January).
Charles Cook, managing director of Grandfield, said: ’We wanted to
concentrate on our financial practice and at the same time it became
apparent that for GPA to grow it needed to move to the other side of
town. It was sensible to change the management structure.’
Grandfield has given Butler and Kelly the option to continue trading as
Grandfield Public Affairs on joint business. However, Butler and Kelly
expect to rename the company in the next few days.