Irish public relations company Drury Porter Novelli has been aquired by its directors in a management buyout from Omnicom Group.
The value of the deal was not disclosed. The management team is led by managing director Anne-Marie Curran, and includes chairman Billy Murphy, finance director Sinead Birt and director Paddy Hughes.
Founded in 1989, Drury Communications was bought in 2000 by Omnicom, and became part of the Porter Noveli network five years ago. Once the management deal is complete, it will trade as Drury Communications.
“We have been an Omnicom-owned agency for the past 20 years and have enjoyed a mutually beneficial relationship. While we will continue to stay close to our colleagues in Porter Novelli, we were keen to become independent again,” Ms Curran said.
As Drury Porter Novelli, the Irish agency reported a 24 per cent increase in turnover to €4.39 million for 2019, with pretax profit up 40 per cent to €829,308. Net profit for 2019 rose by 40 per cent to €716,751.
Among its new clients signed during the year were Amazon Web Services, UPS and Dentons.