Monkleigh clinches First Corporate deal

Monkleigh has completed its second acquisition in buying corporate event management business First Corporate Events. Monkleigh bought Bicester-based Pro Motions Event Management for £255,000 in October. Chief executive Ric Yerbury said that the deals represented the first stages in building a consolidated events business. It raised £500,000 through an AIM listing in July, and will return to the market to fund further acquisitions in early 2005. Yerbury said Monkleigh was set to unveil a new brand identity for its acquisitions in January. "There is an opportunity for a business to provide a more comprehensive single-stop service," he said. "There are many firms doing great work for one or two clients, but they lack scale and hit a glass ceiling because corporates are reluctant to be too exposed." Yerbury said the company would look to add capability in corporate hospitality, conference and event management, staff motivation and team building. Monkleigh will also launch its own return on investment tool for the industry in 2005, he added.

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