Directors acquire Drury Porter Novelli in management buyout from Omnicom
Turnover at Irish public relations agency increased by 24% to €4.39 million for 2019.
11 August 2020 | 0
The directors of PR company Drury Porter Novelli have purchased the firm in a management buyout from owners, Omnicom Group.
Drury Communications, which was founded in 1989, was bought by Omnicom in 2000. It subsequently became part of the Porter Novelli network five years ago.
The group will now trade as Drury Communications once again, after the management acquisition is complete.
Its management team is led by managing director Anne-Marie Curran, and includes chairman Billy Murphy, finance director Sinead Birt and director Paddy Hughes.
“We have been an Omnicom-owned agency for the past 20 years and have enjoyed a mutually beneficial relationship,” Anne-Marie Curran said. “While we will continue to stay close to our colleagues in Porter Novelli, we were keen to become independent again,”
The value of the deal was not disclosed, however, the Irish agency posted strong results last year. Turnover was reported to have increased by 24% to reach €4.39 million for 2019. Meanwhile, pretax profit was up 40% to €829,308 and net profit also rose by 40% to €716,751.
The Irish Times reported Amazon Web Services, UPS and Dentons were among the new clients signed by the group during the year.
The move follows the creation of ‘Amplify @ Drury PN’ in October of last year, which the company described as “an enhanced consumer and digital offering with a strengthened team and significantly extended service offering”.
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