ledge acquired for £3.9m

Live marketing agency Sledge has been acquired by the UK wing of Australian marketing services company Photon. The deal was signed for an initial payment in cash of £3.9m plus deferred payments tied to performance targets. London-based Sledge employs 38 people will join the other UK marketing companies Photon now owns, such as The Corporate Edge, REL Hotwire and Frank PR. These acquisitions have been funded via a £147m acquisition fund, via a debt agreement with the Australia and New Zealand Banking Group, recently increased by £51m. “In Photon we have found a partner that will not only accelerate our growth plans, but that understands the importance of an innovative and entrepreneurial approach to the exciting opportunities that are emerging in the brand experience sector,” said Sledge joint chairman Tom Beaumont-Griffin. “Exciting times lay ahead.” Photon executive chairman Tim Hughes added: “This acquisition is another example of the Photon model successfully identifying great companies who are a natural fit for the group. Sledge is a highly creative and innovative agency that delivers fantastic results for their clients.” Sledge was established in 1991 by Tom Beaumont-Griffin and Nic Cooper and its clients include 02, Peugeot, Microsoft and Foot Locker.

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