The owner of creative agency Cheerful Twentyfirst, Aeorema Communications plc, has acquired London-based boutique events agency Eventful Ltd.
The acquisition of the events agency comes despite the challenging global situation unfolding due to COVID-19, said Aeorema.
The company said the deal marks its “conviction in the future and recovery of the events and MICE industry”.
Mike Hale, Aeorema chairman, said: “The incentive travel sector, a multi-billion-pound market, needs specialist skills and knowledge which Eventful will bring. We will concentrate on delivering logistics and value, in addition to creative and inventive solutions for our clients.”
Eventful will continue to trade under its own name as a wholly-owned division of Aeorema Communications plc alongside Cheerful Twentyfirst.
“The acquisition gives Cheerful Twentyfirst and Eventful the opportunity to join forces when tendering for new clients, and working with existing clients, where the combination of the two companies’ skills will be highly complementary,” added Hale.
“Recognising we are in unchartered territory with the current COVID-19 virus outbreak, we believe strengthening and adding to the company’s offerings to current and new clients supports our business model going forward.”
Eventful’s services will diversify and enhance the group’s offering with senior "black book introductions" and opportunities for cross-selling well underway.
The global creative agency Cheerful Twentyfirst has a 30-year history of producing game-changing creative, events, video and communications.
The B2B agency focuses on creative strategy, event production, event management, moving image and communications production.
Founded in 2002 by Caroline Lumgair, Eventful’s business includes venue sourcing, event design and management and incentive travel services, primarily in the luxury events sector.
Brands like Ralph Lauren and Informa are among its portfolio of clients across multiple industries, including manufacturing, oil and gas, professional services, luxury retail, entertainment and finance.
Lumgair is board member of the Society for Incentive Travel Excellence (SITE) Great Britain Chapter, and is a well-known figure in the business.
“The synergies to be gained from the acquisition will benefit present and future clients of both Cheerful Twentyfirst and Eventful,” she said.
“When the global economy recovers after Covid-19, businesses will need events and incentives more than ever to communicate with, motive and reward their staff and customers.
“This is where training, strategy meetings, leadership conferences and incentives will play their part. The combination of Eventful’s specialist knowledge of venue sourcing in the luxury market and our growing incentive travel expertise with Cheerful Twentyfirst’s event experience and service offering will enable us to offer clients a full-service end-to-end solution.”
Eventful will provide specialist knowledge into the organisation of smaller scale and high-value internal corporate meetings, conferences and training.
The acquisition is expected to immediately boost the business and to grow fee-based revenue.
It also gives Aeorema entry into the venue sourcing and incentive travel markets, allowing the company to provide a full-service events solution to clients.
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