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Engine acquires Edwards Groom Saunders.(Engine Group)(Brief article)
Engine Group has acquired the comms planning agency Edwards Groom Saunders for an undisclosed sum.
Under the terms of the acquisition, the group has made an upfront payment in cash, in exchange for 100 per cent ownership of EGS.
There is no earn out arrangement, but the founding partners Jez Groom, Pete Edwards and Will Saunders are expected to be tied into the business for the foreseeable future.
The deal was signed yesterday, almost exactly one year after Engine bought Partners Andrews Aldridge in a deal worth around pounds 18 million.
EGS's last filed figures at Companies House, for 2006, revealed an annual turnover of pounds 349,475 and operating profit of ...
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