Browne Jacobson has advised The Mission Marketing Group plc on its successful acquisition of London based creative communications agency Krow Communications Ltd. The deal is for an initial consideration of £2.75m which will be funded from existing cash reserves; this could rise to £14.5m dependent on growth performance over the next three years.
The Browne Jacobson team advising The Mission Marketing Group consisted of Birmingham based Michael Stace and Clare Hanna.
Krow Communications Ltd was established in 2005 by John Quarrey and Malcolm Whiteand and is an award winning creative communications agency employing 65 people at its Clerkenwell offices. Its clients include Fiat, The Labour Party, RNLI, Team GB and DFS, amongst others.
The Mission Marketing Group was established in 2006 is a full service integrated marketing communications company specialising in offering digital, brand, marketing, advertising and full service communications services to many of the UK and world’s leading brands.
The Mission Marketing Group employs over 1,000 people in the UK, Asia and the US across a portfolio of agencies which include April Six, Bigdog, Bray Leino, Chapter, Mongoose, Proof, RLA, Robson Brown, Solaris, Speed, Splash, Story and ThinkBDW.
David Morgan, Executive Chairman of The Mission Marketing Group, said:
“We have admired Krow and its approach for quite some time and we are really looking forward to working with them as part of The Mission. Krow’s team members share our values and their position in the market, strategic expertise, creativity and strong senior team will complement our portfolio of Agencies and give us an important foothold in London.”
Michael Stace, Birmingham based corporate partner at Browne Jacobson added:
“We are delighted to have acted on this strategically important deal for our client. It is a fantastic result for both organisations which share a strong business and cultural synergy. Krow Communications will be a great addition to The Mission Marketing Group family.
“As a team we have acted on a number of high profile acquisitions in the marketing communications sector over the last few years and this experience was critical in helping us to provide bespoke legal and commercial expertise to our client.”
Browne Jacobson’s award winning corporate finance team has recently been ranked by Experian as a top 20 UK corporate team, based on the volume of transactions completed and is recognised by independent legal directory Legal 500 UK 2017 as a leading firm for advising on corporate deals.