Upcoming Acquisition: Engine U.K. to be Purchased by Communications Company in the Next 15 Steps
In a potential shakeup for the marketing and communications industry, it has been reported that Next15 is in discussions to purchase the British arm of Engine Group. According to Adweek, four sources with knowledge of the deal have confirmed the ongoing negotiations.
The sale, which has been in progress for several months, was first reported by Sky News. Engine Group's UK business owners, Lake Capital, appointed bank Lazards to find a buyer, and it is believed that the asking price for the sale is around £100 million.
However, there is currently no publicly available information regarding the identity of the buyer or the expected sale price for the U.S side of Engine Group's business. The ongoing discussions about the U.S sector suggest that the future of Engine Group's APAC section remains uncertain if both the British and U.S sides are sold separately.
The sale of Engine Group's UK business could be confirmed before the end of February, according to recent reports. If the deal goes through, it would mark a significant move for Next15, which is a communications group specialising in PR, digital, and marketing services.
The sale process was initiated by Lake Capital, who were seeking to find a buyer for Engine Group's UK business. The exact reasons for the sale are not clear, but it is believed that the move is part of a larger strategic reorganisation for Engine Group.
As the negotiations continue, both parties are keeping a tight lid on the details of the potential deal. However, it is clear that this potential acquisition could have far-reaching implications for both Next15 and Engine Group, and the marketing and communications industry as a whole.
Stay tuned for further updates as more information becomes available.
Fire may be needed to fuel finance for Next15's potential acquisition of Engine Group's capital in the business sector, given the reported negotiations and the anticipated £100 million asking price. If successful, this move could ignite a significant shift in the marketing and communications industry, as Next15 expansion into PR, digital, and marketing services is imminent.
