Hanover Group acquires Bell Pottinger Middle East
Hanover Middle East has signed an agreement to acquire the shares of Bell Pottinger Middle East in Dubai and its operating licence in Abu Dhabi.
The acquisition will add 14 consultants to Hanover Group’s 125-strong EMEA team and will take its 2018 fee income to over £20 million.
Bell Pottinger Middle East was not involved in the controversy that led to the UK business’ collapse. It has traded through the affair under the leadership of managing director Archie Berens.
Jonty Summers, Hanover Middle East’s MD, will become the managing director of the combined business. Berens will be its chairman and Amy Piek will provide support as a director.
The sale was negotiated by BDO, the insolvency practitioners acting for Bell Pottinger’s administrator following the consultancy’s collapse in September. Global M&A consultancy SI Partners advised Hanover Communications on the deal.
Charles Lewington, Hanover’s founder and chief executive, said: “Bell Pottinger Middle East is a terrific business with a talented, professionally run team which presents a strategic opportunity for Hanover to supercharge its growth in the region.”
Berens added: “I am delighted we have found a professional partner for our first-class team, whom I would like to thank for their loyalty and dedication during the uncertainty of the last two months. I would also like to thank our clients for their patience, support and encouragement.”
Joe Hine, a partner at SI Partners, concluded: “Bringing Archie and the team on board creates scale and presence in the Middle East for Hanover in both Dubai and Abu Dhabi. The deal provides an excellent platform for growth for the combined business.”
- Pictured: Amy Piek (left), Jonty Summers (middle) and Archie Berens