Thu, 10 May 2012 | MBO/MBI
PR company Chime has announced in an interim management statement that it is to sell off constituents of its Bell Pottinger brand through a management buy-out.
The sale of businesses including Bell Pottinger Sans Frontieres, Bell Pottinger Public Affairs and Bell Pottinger Middle East, has been rumoured for some months but this latest announcement agreed the main terms for a management buy-out of the firms, led by Lord Bell.
Plans are in place for Chime to retain a 25 per cent minority stake in the Bell Pottinger sale, with the terms based on 2011 profits. The potential management buy-out of the Bell Pottinger sections of the firm's public relations division would represent less than ten per cent of the group's profit.
A statement from the group read: "Its completion remains subject to the finalising of financing arrangements and the completion of due diligence."
Lord Bell, Chime's chairman, added: "Trading during the year so far has been satisfactory within the sports marketing, advertising, research and healthcare businesses, but we are forecasting a decline in revenue and profits in the public relations business which will affect the full year results.
"Given the profit decline in Public Relations and a rebalancing of sports marketing profits caused by the Olympics, group profits will be second half weighted."
For sale is a long-established tree surgery and arboricultural services business with an excellent reputation, serving both domestic and commercial sectors across Southern England, including the Home Counties and London.
An opportunity has arisen to acquire a mechanical engineering company specialising in the Water Industry. Benefitting from over 3 decades of trading, this business has built a solid and long standing client base comprised of prominent UK utility comp...
An opportunity has arisen to acquire a reputable IT support and development services provider with a UK-wide client base and a proven record for innovation and resilience in the constantly evolving IT sector. Throughout its 25+ year trading history,...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.