Quayle Munro is pleased to announce that it has advised Huntsworth plc (“Huntsworth” or the “Company”), the leading public relations and healthcare communications group, on a £36.5m investment by BlueFocus, the Chinese communications group listed on the Shenzhen Stock Exchange, in Huntsworth. Under the terms of the Subscription Agreement between BlueFocus International (BlueFocus Communication Group’s Hong Kong subsidiary) and Huntsworth, BlueFocus International acquired 63,000,000 new Huntsworth shares representing approximately 19.6% of the issued ordinary share capital of the Company.
This unprecedented alliance between leading Eastern and Western public relations consultancies is expected to lead to an immediate step change in the capabilities, expertise and reach of the services which both companies are able to offer their clients. Huntsworth proposes to use the proceeds of the subscription to help further the strategic goal of achieving organic revenue growth through investment in digital, multi-office capabilities and talent, and enabling the Company significantly to reduce bank debt.
Huntsworth plc is an international public relations group with 72 principal offices in 30 countries. During 2012 the Group worked for circa 2,200 clients and provided services to 44 companies in the FTSE 100, 83 in the Fortune 500, 94 in the FTSEurofirst 300 and 36 of the world’s 50 largest healthcare companies. The Group comprises some of the world’s leading public relations agencies in their four divisions Grayling, Citigate, Red and Huntsworth Health.
Founded in 1996 and headquartered in Beijing, BlueFocus is one of the leading public relations and brand management companies in China. It was the first publicly listed domestic PR company in China in February 2010 through its £69m IPO on the ChiNext Board of the Shenzhen Stock Exchange. It provides a wide range of PR and brand management services such as brand marketing, products promotion, media relations, crisis communication management, events management, digital media marketing, CSR, government relations and financial communications to over 850 brands. BlueFocus has numerous subsidiaries in Shanghai, Beijing, Guangzhou and Hong Kong across the country and employs over 2,200 staff.