DUBLIN: Drury Communications founder Fintan Drury has sold out his
majority stake in the firm to a pounds 561,000 management buy-out. Drury
retains a four per cent stake, down from his previous 55 per cent, and
will step down as managing director in January.
Director Billy Murphy, who has increased his holding from 19 per cent to
around 40 per cent, will take over the role. Murphy currently heads up
the firm’s PR business. Other senior executives now hold an estimated 24
per cent.
Drury set up the company ten years ago. It now encompasses PR, market
research, internal communications and public affairs. It has offices in
Dublin, Belfast and Budapest, and is looking to set up in the UK. The
firm has 40 staff and expects to pull in pounds 2.7 million in fees this
year.
- Drury has just beaten fellow Irish agencies Murray Consultants and
Slattery PR to handle the Irish government’s flotation of Telecom
Eireann next year (PR Week, 23 October). This is the first state utility
to float in Ireland. Drury shares the account with Dewe Rogerson, which
beat Shandwick and McCann-Weber on the international pitch.
