The fast-growing Loewy Group continues to expand with the acquisition of three more consultancies, bringing combined turnover to £10m.
Ad agency Cortexx, retail catalogue and production specialist Parker Baines and sales promotion agency Spring are the new additions to the group, which formed last April in a five-way merger involving Raymond Loewy International, Wilson Harvey, Prescient, Loewy3 and RiteAngle.
Chief executive Charlie Hoult says the company, whose chairman is restaurateur and Channel 4 chairman Luke Johnson, is examining further acquisitions and is still looking towards an Ofex flotation in due course.
‘I think we might try to combine a money-raising flotation with a sizeable acquisition or two,’ says Hoult. Asked whether Loewy has enough design capacity for now, Hoult adds, ‘We can always do with more.’
In the meantime, Hoult says he is focusing on integrating the elements of the group into a cohesive whole. ‘We see ourselves a bit like a big law firm – the new joining teams have partners in charge.’
‘The exciting thing for us is that a lot of the people we are teaming up with have come from small companies where you get a lot of weight on your shoulders in terms of responsibility.
‘But we are now 100 people and we can share some of that about and concentrate on what we are best at,’ he says.