A major events agency is on the acquisition trail in the UK.
Mike Davies, managing director at BI Worldwide, said the Newport Pagnell-based firm has established offices in Moscow and Frankfurt and is looking to acquire UK firms.
According to financial targets filed at Companies House, the agency plans to grow turnover to £47.4 million and gross profit to £13.8m in 2016, while acquiring £1.5m in new business.
In the year-ending 30 June, 2015 the company’s pre-tax profit rose to £2.5 million, up from £1.1m in 2014 while sales were up 38% to £44.5m from £32.2m in 2014. Gross profit rose 33 per cent from £9.4m to £12.5m in 2015.
He said: “We are not looking for businesses that do exactly what we do in order to add scale.
“We are looking for companies in the UK that complement what we do. It might be a company with a niche piece of technology, for example. Technology is becoming an increasing part of what we do and if a company has something new that can add to what we do we’ll take a look at it. We’ll be looking for great creative companies that can add to what we do or that have clients that we can add something to.
“We have quite a few orders on our books already for 2016 and we a confident because our clients are confident.”