Bridgepoint Capital and Bank of Scotland have invested £20m in a new pan-European public relations firm.
The firm, as yet unnamed, will be led by Michael Murphy. Murphy was previously deputy head at Shandwick International, another PR firm, but left the company after the departure of its founder, Lord Chadlington.
Murphy’s new firm has already made its first acquisition. It acquired MacLaurin, a PR firm specialising in hi-tech companies. The deal is believed to be about £10m. MacLaurin will continue to do business under its own brand.
MacLaurin is the first step in a three year strategy, which, if successful, will see Murphy’s group pull in annual fees of about £50m.