Merger and Rebranding of UK Agencies
18 January 2021
SEC Newgate S.p.A. ("SEC Newgate" or the "Group")
Merger and Rebranding of UK Agencies
Change of TIDM to SECN
SEC Newgate S.p.A., the insight-driven global strategic communications group that works at the nexus of business, politics, communities, markets and media, today announces two further key steps, in line with its Strategic Plan, to create a fully unified, powerful global communications brand.
With immediate effect, its two largest UK agencies, SEC Newgate UK Ltd. (formerly Newgate Communications Ltd) and Newington Communications Ltd ("Newington"), will merge and rebrand as SEC Newgate UK. As part of this combination, SEC Newgate is increasing its stake in Newington from 60% to 100%, as described more fully below, and the business and assets of Newington have been transferred to SEC Newgate UK Ltd.
The combined entity, SEC Newgate UK, has 130 employees and eight offices across the UK. Its recent awards include Best Integrated Campaign (PRCA DARE Awards 2020) and Planning Campaign of the Year (PRCA Public Affairs Awards 2020). SEC Newgate UK unites under one roof creative thinkers able to use research and the latest technologies to drive insights and analysis of the competitive, cultural and political environments in order to fuel strategic thinking and boost the ability to understand and predict perspectives and deliver for SEC Newgate's clients.
By the end of this year, it is intended that all agencies across the SEC Newgate group will transition to the SEC Newgate brand. This will enable advice to be delivered under one brand by over 600 professionals across six continents, providing clients with around the clock counsel and support, implementing campaigns locally, nationally and internationally.
Change of TIDM
To reinforce the unified Group branding, the Group's TIDM will change from SECG to SECN with effect from 8.00 a.m. on 19 January 2021.
SEC Newgate S.p.A. has acquired the 40% minority stake not already owned by it, taking its holding up to 100% of Newington. The cash consideration for the acquisition is £420,799, payable in six instalments of £70,133 commencing six months after completion and on a six-monthly basis thereafter. Subject to SEC Newgate obtaining the necessary approvals to allot new ordinary shares, the Newington vendors, who include Mark Glover, a Director of SEC Newgate, have agreed that 30% of the consideration may be satisfied by SEC Newgate issuing and allotting new ordinary shares in SEC Newgate to the vendors at a price of £0.41 per share, being the SEC Newgate 12-month average share price, by no later than 1 June 2021. In the event that such shares are issued and allotted the cash consideration shall be reduced accordingly.
Commenting on the announcement, Fiorenzo Tagliabue, Group Chief Executive, said:
"SEC Newgate is already a top 30 global communications group and clients are increasingly working with many of our agencies across multiple jurisdictions. We now feel it is time to simplify our story and operate under one brand whilst ensuring that we retain the entrepreneurial spirit and domestic insights that are the hallmarks of our success."
Emma Kane, Chief Executive of SEC Newgate UK and Deputy Group CEO, added:
"The marriage of Newgate and Newington creates a fully integrated service across communications, advocacy and research, all under one P&L. Our new brand reflects our strong local roots, global reach and true entrepreneurial spirit. This is great news for our talented team of people and the organisations we partner with as our clients."
Mark Glover, Executive Chairman of SEC Newgate UK and Group Director, commented:
"We are delighted to be joining forces to create SEC Newgate UK. The whole is definitely stronger than the sum of the parts, bringing together award-winning teams across the full communications spectrum to deliver positive, winning solutions for our clients' priority issues. We are excited about the significant opportunity we have as SEC Newgate UK."
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Fiorenzo Tagliabue (Group CEO)
Tel: +39 335 6008858
Emma Kane (Deputy Group CEO,
CEO SEC Newgate UK)
Tel: +44 (0) 7876 338339
Sergio Penna (Group CFO)
Richard Johnson / Benjamin Cryer
Tel: +44 (0) 20 7614 5900
Notes to Editors
· SEC Newgate's focus is on achieving positive outcomes through communications, advocacy and research, helping clients clearly demonstrate their purpose, value, and impact locally, nationally and internationally.
· Further information is available at the Group's website: www.secnewgate.com
· Further information on SEC Newgate UK is available at: www.secnewgate.co.uk