Hasgrove has pursued an aggressive ‘buy-and-build’ acquisitions strategy since being founded in 2004 by TV presenter Rob McLoughlin and the former head of Deloitte’s Manchester operations, Godfrey Taylor.
Focussed on fragmented high growth European niche markets such as PR, design, online marketing and digital services, Hasgrove seeks to offer a multi-channel pan-European solution to blue chip companies through a number of leading brands.
Seven acquisitions in the past year have included Connectpoint, The Chase and Interel. The group current employs 170 people and in the six months leading to 30 June has seen sales of £9.6m with gross margins of 64.1% and an operating profit of £1.2m.
Hasgrove’s placing on AIM will see it step up its pursuit of other European ‘best of breed’ brands and it expects to announce further acquisitions within nine months of placement.
Rod Hyde, chief executive, said: “Our listing on AIM is the next logical step in our development. It will provide us not only with a higher profile and stronger balance sheet but also an acquisition currency.”
© Crimson Business Ltd. 2006
