INTERNATIONAL: BSMG acquires investor relations specialist FRB

NEW YORK: True North Communications, which owns PR agency BSMG Worldwide, has acquired investor relations agency Financial Relations Board (FRB) in a pounds 19.8 million deal. The deal has made BSMG the sixth largest PR firm in the world.

NEW YORK: True North Communications, which owns PR agency BSMG

Worldwide, has acquired investor relations agency Financial Relations

Board (FRB) in a pounds 19.8 million deal. The deal has made BSMG the

sixth largest PR firm in the world.



The group will have a combined fee income of pounds 71.9 million, with

900 staff and 21 offices. FRB will operate as a separate brand within

BSMG.



FRB is currently the third biggest independent firm and 16th largest

overall in the US, according to Jack O’Dwyers annual league table.



BSMG gains an account list which is 90 per cent retainer-based. This

builds on its own, deal-focused investor relations business. FRB, which

has been growing organically within the US at 25 per cent a year for the

past decade, gains the financial muscle to expand internationally.



BSMG has six offices outside the US.



’If anyone is going to build an international investor relations

network, it should be us,’ said FRB founder and chairman, Ted Pincus.

’We developed the industry: It’s our destiny. But we didn’t have the

capital before.’



Pincus will stay on for at least five years as chairman and CEO,

reporting to BSMG chairman Harris Diamond. Pincus is already targeting

possible financial PR agency acquisitions in Europe and Asia, as well as

the US.



None of FRB’s six offices will close, although all overlap with

BSMG.



All FRB staff are to keep their jobs.



BSMG and FRB claim to have no client conflicts. BSMG’s recent clients

include RJR Nabisco, Long John Silver’s Restaurants, and hi-tech company

Inacom. FRB has over 500 clients, including haircare giant Alberto

Culver.



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