Mission marketing raises £5 million

Thursday 25th of October 2007

The Mission Marketing Group has managed to conditionally raise £5 million, through a share scheme.

The firm managed to raise the funds through placing 3,571,429 new ordinary shares at a placing price of 140 pence per share to institutional investors. The funding will allow the firm to continue its policy of acquiring selected agencies, as it continues in its attempts to build a national network of agencies.

"The placing provides us with the financial flexibility to continue to accelerate our expansion plans," Ian Ferguson, the company's chief executive, commented.

"Our focus on quality companies specialising in dynamic sectors is driving strong organic growth. This, coupled with a proven ability to make and rapidly integrate acquisitions, means we are well positioned to build a bigger platform from which to drive further growth."

During the last year and a half, Mission Marketing has acquired Bray Leino, April-Six and thinkBDW - and it will soon complete a take over of Scottish firm Story UK.