Print management group Paperhat has bolstered its multimedia offering with the purchase of majority stakes in two London-based creative outfits and revealed that it hopes to make three more acquisitions in Q3.
However, Tim Peppiatt, Paperhat Group chief executive, wouldn’t be drawn on the value of the two most recent deals or the identities of the acquisition targets.
"I’m dying to say, but I would get murdered by my chairman. They will take the tally to six companies this year. That will probably be it for 2012, but we will do more deals next year," he said.
The deals for boutique creative agency Reputation by Design and high-end production studio FTP Digital were signed in April, and Reputation by Design was subsequently moved to FTP’s London offices from Croydon.
Following the move, Paperhat created a new 24-staff subsidiary, Paperhat FTP.
The new company will offer retouching, digital image manipulation, CGI, design and photography.
"This is a very exciting development for Paperhat and supports our growth and diversification strategy into cutting-edge marketing channels," said Peppiatt.
These latest deals are part of the company’s strategy to create a cross-media operation that it says will span the full requirements of its blue-chip client base and follows its acquisition of a majority stake in cross-media marketing specialist Consorcio Group, headed by Ian Sullivan, in January. The company was rebranded Paperhat Consorcio.
Paperhat FTP will be headed by Steve Palmer, managing director of Reputation by Design, Steve Davis and Rick Carter, both directors of FTP Digital, all of whom will retain a stake in the business, and Paperhat Group managing director Tony Rapacioli.
Paperhat Group, which formed a joint venture partnership with production network company Gutenberg Networks, a subsidiary of Omnicom Group, in 2010, unveiled its ‘buy and build’ plan early last year, following the appointment of former Office2office chief executive Ray Peck as Chairman.
- Article update for PrintWeek magazine. Click here for the original story