24/10/2008 - 12:26

Downie, McGlue accept acquisition deal

24/10/2008 - 12:26

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Perth public relations firm Porter Novelli, owned and managed by Paul Downie and John McGlue, will operate under the FD Third Person banner after it was acquired by Financial Dynamics International.

Perth public relations firm Porter Novelli, owned and managed by Paul Downie and John McGlue, will operate under the FD Third Person banner after it was acquired by Financial Dynamics International.

The independent PR firm will now offer services alongside FD Third Person's Sydney and Melbourne offices.

Under the agreement, both Messrs Downie and McGlue will remain with the company for several years.

Porter Novelli had previously traded under an international communications brand.

 

Below is the announcement:

 

Financial Dynamics International (FD), the strategic communications division of FTI Consulting Inc, has further strengthened its capabilities in Australia with the acquisition of Perth's leading corporate communications and investor relations firm.

The Perth consultancy is owned and managed by Directors Paul Downie and John McGlue who have extensive experience in financial transaction support and corporate communications. The business previously traded under an international communications brand.

The Perth business provides advice to a client base of Western Australia's largest listed and private companies. The firm has also worked alongside corporate advisers and financiers on some of WA's biggest ASX listings and corporate transactions.

They will now operate under the FD Third Person brand, forming a powerful national service offering alongside the existing Sydney and Melbourne offices.

FD's Group Chief Executive Charles Watson, said the Perth office would bring significant new capabilities to the Group's operations in Australia, as well as to FD's natural resources expertise globally.

"We are very excited to welcome Paul, John and their team of experienced and talented consultants to FD," he said.

"The combination of their business with that of FD Third Person unquestionably now creates Australia's leading financial communications consultancy. As a leader in their field with a significant footprint in the capital markets and financial communications sectors, this offers us an outstanding opportunity to grow our national presence and client service."

John McGlue said joining FD would provide the Perth team and its extensive client base with exceptional opportunities.

"The change to FD will provide our clients with access to the best of what the Group does nationally and internationally, plus the benefit of exceptional on-the-ground services in major business and investor centres around the world.

"Our clients have given us great support in building our business. For some time, we've been exploring opportunities to better align our business and our network with their needs - and FD is by far the best fit for our clients and our business," Mr McGlue said.

"The shift to FD also allows us to build our expertise and capacity with exceptional professional opportunities for our team. Much of our value to clients is driven by the outstanding skills of our consultants and FD offers the opportunity to further develop those skills and networks."

FD Third Person founder and Director, Jim Kelly, said the increasing challenges facing listed companies has created the perfect environment for the company to grow.

"More than ever, Australian and foreign companies are looking for consultancy teams with geographic reach, broad experience and a track record of success."

"This acquisition means that our clients in Sydney and Perth will have the leading team on both the east and west coasts of Australia."

FD recently won the inaugural Financial Times-mergermarket Asia-Pacific Public Relations Firm of the year for 2008.

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