Citigate Communications has snapped up Glasgow-based firm Flora Martin
Public Relations, strengthening its presence in the Scottish PR market.
The deal, signed on Tuesday, follows four months of negotiations and
sees the purchase of Flora Martin by the Citigate Group for a mixture of
cash and shares.
The firm and its ten staff will merge with the group’s Edinburgh-based
operation Dunseath Citigate to form a new regional subsidiary, Citigate
Formed in 1989, Flora Martin Public Relations was wholly owned by
managing director Flora Martin and her husband Alexander, a non-
Clients include Glenmorangie malt whiskey, Waverly Vintners and law firm
MacLay Murray and Spens. Fee income for the year to July 1995 was around
Citigate chairman David Wright declined to reveal how much he had paid
for the agency, but said it was a ‘considerable’ amount, of which 70 per
cent was in shares.
He added that the deal would consolidate Citigate’s position in
Scotland, with offices in Glasgow, Edinburgh and Aberdeen.
‘We have got the presence we always said we would achieve and now we can
offer clients a complete service in the region,’ said Wright.
Flora Martin PR is Citigate’s latest purchase in what has become
something of an acquisition spree. Since 1995 the group has bought
agencies in Belfast, Johannesburg, New York, San Francisco and Leeds.
Wright has made no secret of his wish to float the group and said the
acquisitions would help Citigate become ‘an attractive investment
proposition’ for a possible listing later this year. He added that
Citigate was in talks with financial advisers but has made no