LONDON, UK: SEC Newgate S.p.A. has acquired a 70% shareholding in Twister Communications Middle East, the Dubai-based branch of Italian PR firm Twister Communications Group.
The acquisition is in line with the Group’s Strategic Plan 2021/2023 for expansion in key strategic markets, including Middle East.
Twister ME, which will be rebranded SEC Newgate ME, has a strong business base, with a combination of private and institutional clients, both Italian and international. The agency’s specialist team of consultants offers a broad portfolio of services, including media relations, digital communications and brand management.
The agency was established in 2013 as a branch of Italian PR firm Twister Communications Group jointly with founding partner and CEO Elena Gramatica, whose career started in Italy in the marketing sector before moving to the Gulf as an advisor in the luxury sector in a multinational PR Group. Twister ME, despite the effects of the Covid-19 pandemic in the region, reported revenues in excess of €500,000 for 2020 and was breakeven.
SEC Newgate will acquire 70% of TwisterME’s equity for a consideration of €340,000 payable in cash. The remaining 30% will be held by Elena Gramatica, who will join the rebranded company as managing director. Following the Acquisition, the board of SEC Newgate ME will comprise Elena Gramatica, together with Tom Parker, Group deputy CEO and EMEA Regional Manager and Sergio Penna, Group CFO.
Fiorenzo Tagliabue, CEO of SEC Newgate S.p.A., said: “APAC and the Middle East are already part of our consolidated footprint, so this strategic deal adds momentum and investment in a part of the world economy that is becoming more and more significant, especially for PR and communications. Today’s transaction expands our presence in the area and positions SEC as one of the leading global PR firms in a geographic market full of business potential, ahead of Expo 2020 starting on 1 October 2021, and the football World Cup in 2022.”
Elena Gramatica, Managing Director of Twister Middle East, said: “Our partnering with SEC Newgate will allow us to build upon our understanding of the local market and our network of relationships, to serve a wider audience of international clients seeking to develop and invest in the Middle East, especially in our core sectors of luxury, consumer, technology and governmental affairs.”
SEC Newgate SpA share price
91.00 GBX−7.00 (7.14%)today
28 Jul, 11:08 am GMT+1 ·Disclaimer
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