TDMG closes in on acquisitions, but says time isn’t right for aim floating
The Direct Marketing Group (TDMG) is close to concluding two agency acquisitions
Instead, Smith revealed TDMG would be opening up another fundline through private equity backing to facilitate more DM and digital DM agency acquisitions over the next three or four months. Smith revealed that the group is currently in talks with two agencies and said: “We’re confident that at least one, maybe both, of the deals will go through soon. We should be able to announce something next month.”
Industry sources have also recently revealed that TDMG came close to being acquired by The Mission group last year. However, Smith “categorically denies” that the deal is on the cards and believes the current state of the market makes any such deal unfeasible.
“We’ve always said we’re not adverse to joining forces with another group at some point in the future, but at the moment, the other AIM listed groups are not in a position to buy us. Their share values have plunged, if not plummeted, and we’re continuing to grow with acquisitions. It’s not the right time.”