Clearwater International has advised The Creative Engagement Group Limited (“TCEG”), on its sale to Huntsworth plc (“Huntsworth” or “the Group”), the healthcare communications and public relations group, from private equity investor LDC and certain members of TCEG’s management, in a transaction valued at £25m (c.€28m).
TCEG is a collection of three creative agencies – WRG, The Moment and Just Communicate – that provide experiential marketing primarily through events and digital marketing, including virtual and augmented reality, predominantly to healthcare clients.
The addition of TCEG will strengthen further Huntsworth Health’s ability to provide high quality digital creativity to its clients, and allow TCEG to benefit from access to the Group’s existing healthcare clients, especially in the US where there is significant opportunity for TCEG to increase its market share. The addition of TCEG supports Huntsworth’s strategy of adding capability to better support the needs of healthcare clients through both organic growth and selective acquisitions.
TCEG is based in the UK but services clients across the world, with approximately one third of revenue generated in the US.
The TCEG management team is led by CEO Russ Lidstone and COO David Sharrock, and both will remain with the business.
The Clearwater International team was led by CEO Michael Reeves and Director Michael Loudon with support from Director Emma Rodgers, Associate Director Chiara Pettinicchio and Associate James Kennedy.
Paul Taaffe, CEO, Huntsworth plc
Russ Lidstone, CEO, TCEG
Rob Powell, Director, LDC
Michael Reeves, CEO, Clearwater International