Huntsworth buys second US business

A London-based public relations group has completed its second acquisition in the US in less than four months. Huntsworth has bought AXIS Healthcare Communications in a deal that could be worth up to £27 million.


A London-based public relations group has completed its second acquisition in the US in less than four months. Huntsworth has bought AXIS Healthcare Communications in a deal that could be worth up to £27 million.

A London-based public relations group has completed its second acquisition in the US in less than four months. Huntsworth has bought AXIS Healthcare Communications in a deal that could be worth up to £27 million.

An initial cash payment of £9 million will be followed by a deferred sum based on the acquired company’s profits in the last six months of this year. Further payments may be made depending upon profits in the following four years.

AXIS was sold by founder Neil Matheson and six other members of its management team. Matheson continues to lead the business, which has become part of Huntsworth Health along with Dorland Global, which Huntsworth bought in March.

Evoke, AXIS’ digital communications subsidiary, is included in the acquisition.

Huntsworth operates from 60 offices in 30 countries. Its clients are in the consumer, financial, public affairs, healthcare and technology sectors.

Philadelphia-based AXIS serves clinical, medical and marketing businesses as well as the sales training departments of pharmaceutical, biotech and medical device companies.

Last year, its profits before tax were £1.2 million. It employs 220 people across seven offices in the US.

Marc Barber

Raven Connelly

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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