SYDNEY, AUSTRALIA: Enero Group Limited (ASX: EGG) announced the sale of public affairs agency, CPR Communications and Public Relations (CPR) to The Civic Partnership, to further refine the Group’s portfolio of complementary brands and services across the globe.
Brent Scrimshaw, Enero Group CEO, said: “The sale of CPR Communications will enable Enero to sharpen its focus and synergy across its global portfolio of businesses and capabilities, while continuing to invest in Enero’s priority markets.”
Jason Aldworth, Managing Partner of Civic Partnership said: “We’re excited to welcome CPR to The Civic Partnership. Civic’s team, including former senior journalists, state, and federal ministers from both sides, together with our deep networks across Australia, will bring unrivalled expertise to CPR’s current and future clients.”
CPR contributed 1.2%, or $2.7m, of Enero Group net revenue for FY23. Enero Group will recognise a non-cash loss on sale of approximately $2.5m to $2.7m before the impact of income tax.
Enero Group is a specialist portfolio of marketing, technology and communications businesses listed on the ASX (Australian Stock Exchange) that includes creative agency BMF, PR and integrated communications agencies the Hotwire Group (Hotwire, ROI DNA, GetIT) and CPR, digital and experiential agency Orchard and adtech platform 013 Media.
Enero sells The Leading Edge (TLE) & The Digital Edge (TDE) to FitftyFive5