Tuesday, December 16, 2008

Small Firms Being Studied for Acquisition

Attention small shop PR firms...blue light special! Seriously, it is encouraging to see that not only is the public relations sector surving the recession, its growing. Any ideas as to why? More outsourcing due to corporate PR layoffs? Your comments and opinions welcome.


5W Public Relations, today announced intentions to make acquisitions, and aggressively pursue small PR agencies in 2009. The firm is currently in discussions with several firms. 5W Public Relations has quickly grown to be the nation's 21st largest independent firm since their founding in 2003.

"Thankfully, despite the tough economy, 2008 was a growth year for 5WPR as we continue to organically grow and mature. Given the state of the economy, as entrepreneurs, we understand the struggles small firms may have with collections, lowering of retainers and simple balance sheet issues, and as such we are interested in acquisitions or agencies that may be looking to merge into a larger agency," said Ronn Torossian, CEO of 5W PR. "We are targeting small firms and we are seeing a lot of Public Relations firms doing great work, but are facing tough times. We are very confident that we will continue to grow and view acquisitions as a component of that process. We are cash positive and want to invest in acquisitions to grow."

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