Communications agency expands events presence with acquisition
A Worcestershire communications agency has expanded its UK presence with a new acquisition.
Bromsgrove-based DRP Holdings has purchased Penguins, an events company based in Windsor.
The acquisition adds diversity to the DRP client base and bolsters its position within the events sector.
The 22 staff employed by Penguins have moved across to DRP, which sees its workforce grow to 221 people across the Midlands, London, Leeds and now Windsor.
Penguins, which is celebrating its 30th anniversary in the industry, specialises in live events and incentive travel solutions, providing management, production and digital servicing to clients such as Honda, GSK, British Airways, and Unilever.
Mark Buist, managing director at Penguins, said: “Joining drp opens up a host of opportunities for Penguins, drp and our customers.”
Dale Parmenter, group chief executive of DRP, said: “This is an extremely exciting time for the drp team. Penguins is a well-established, innovative and active agency, which we are looking forward to welcoming into our team.”
Law firm Thursfields advised on the corporate, employment and property aspects of the deal. The Thursfields team included corporate director Gareth Burge, commercial property director Nick O’Hara and commercial director Michelle O’Hara. They were joined by Tim Edwards, senior associate in Thursfields’ corporate division, and trainee solicitor Joe Rollins.
Black Country accountancy firm Price Pearson advised on the tax and accounting aspects of the deal.
