Summersault specialises in producing internal corporate literature such as employee magazines, intranets, conference literature and online communications.
It lists Asda, Tui, McDonald's and National Grid Transco among its clients.
P&MM managing director Nigel Cooper said the acquisition will complement its existing offer. "We already have an employee-benefits division and this will simply expand our offering in the employee arena," he said.
"It's complementary to what we already offer; it isn't more of the same."
Cooper said the two companies would continue to operate as completely separate divisions with Summersault retaining its brand. However, clients of both companies can now tap into the specialities of either. "If a Summersault client wanted to hold a conference then it could pass it on to us and we can now offer P&MM clients an internal communications speciality," added Cooper.
Summersault employs more than 30 staff and no redundancies are planned.
Last year, it recorded an operating profit of £400,000 and will continue to trade from its base in Leamington Spa, Warwickshire.
Cooper confirmed that P&MM acquired the entire share capital of Summersault for £2.25m, consisting of an initial consideration of £1.5m and a further deferred £750,000 in profit-related payments.
This is believed to be the first of several acquisitions that P&MM will make this year. "At present we are in talks with three or four other companies," said Cooper.
- P&MM Group is proposing to change it's name to Motivcom PLC. Pending shareholder approval, the name change for the holding company, which comprises P&MM Ltd, P&MM Travel, Archer Young and Summersault Communications should come into effect by the end of March.
Be the first to comment