The Marketing Group’s US Subsidiary Wilkin Marketing Completes The Tactical Acquisition Of DAE Advertising
November 21, 2016
At the time of this writing, Unity-Group PLC's first vertical market agglomeration was coming up on it's sixth month since the initial IPO.
Jeremy Harbour, Executive Chairman of The Marketing Group
The acquisition adds a range of advertising capabilities to Wilkin Marketing’s service offering and enables it to access the large and growing market for advertising services in California. The deal marks Wilkin Marketing’s first tactical acquisition and continues the Group’s strategy of adding mature, profitable, debt-free and well-managed private businesses that strengthen its positions in key markets.
The transaction was completed at a strike price of €3.69 per share (based on a 10-day volume weighted average price). This requires the creation of 1,560,325 new ordinary shares, 75% of which are subject to a 360-day lockup period. The total number of Ordinary shares issued by The Marketing Group will increase from 34,185,911 to 35,746,236.
Commenting on the acquisition Rusty Donohoo, CEO and founder of Wilkin Marketing said: “The acquisition of DAE Advertising adds valuable advertising services to our offering and brings an impressive list of new clients to the company. Importantly it also broadens our reach into the large Californian market and increases the overall profitability of The Marketing Group.”
DAE Advertising, Inc. provides a range of advertising and marketing services including strategic planning, creative development, media planning, online marketing, website development and event management services. Clients include leading brands such as Cathy Pacific Airways, Charles Schwab & Co., Comcast, Southwest Airlines and Wells Fargo.
Jeremy Harbour, Executive Chairman of The Marketing Group added: “This acquisition demonstrates one of the clear benefits to our subsidiaries of being part of The Marketing Group, the ability to use our shares to make tactical acquisitions that help to create a more effective and cohesive client offering. The deal also demonstrates our continuing ability to identify and rapidly execute acquisitions at Group and subsidiary level, consistent with our acquisition strategy and which help to build value for our shareholders.”