Ingenious Corporate Finance has advised The Engine Group, the UK's largest and fastest growing independent marketing services company, on the successful acquisition of Penrose Financial, the leading public relations consultancy specialising in financial services and capital markets. Engine has acquired 100% of the share capital of Penrose for a mixture of cash and shares, taking its annual revenues in PR, under the heading of Engine business, to over £19m. Engine is now a top 10 group in the UK PR market, with Penrose's expertise growing Engine's ability to deliver integrated corporate, financial and public affairs consultancy to the financial services sector.
The acquisition is the latest in a series of successful acquisitions for Engine, and marks the continuation of Ingenious Corporate Finance's long standing advisory relationship with this client. In the last four years, Ingenious Corporate Finance has advised Engine on 10 successful acquisitions and two private placings, with a combined investment value of £50m.