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IMS Group: Acquisition of Elektrik IIetisim Organizasyon Hizmetleri Limited Sirketi
Allmänna Nyhetstips2008-05-02 09:57 CEST
Elektrik was established in 2006. Its core businesses are event planning/organising, above and below the line marketing communication services and advertisement agency services. Amongst its clients are some prestigious Turkish banks and multinational companies such as Yapi Kredi Bank, Tekstilbank, Shell, Aviva Insurance Company and Eli Lilly. Elektrik has shown impressive growth during the past year. Elektrik has 20 permanent employees and its last audited accounts, for the year ended 31 December 2007, show turnover of US$10,288,008, a profit after tax of US$247,887 and gross assets of US$1,549,268. Elektrik is one of the fastest growing Marketing Communication Services Company in the Turkish market.
The acquisition will provide IMSG with an expanded presence in the fast-growing Turkish market and the agency will be integrated under IMSG’s umbrella of event businesses branded One2Remember.
Turkey has an attractive business environment and the general outlook for the future is encouraging. In particular, the advertisement market is expected to grow rapidly.
Muammer Pamir Kiraner, Aysen Gürgan and Onur Yegenoglu will continue to manage the day-to-day running of the business following the transaction, and will report to IMSG Executive Chairman, Gregory Thain. Following the completion the company will be rebranded to One2Remember Elektrik.
IMSG's Acquisitions Director, Lau Geckler, led the transaction and was advised by Bevan Brittan LLP London, together with its Turkish advisers. Elektrik was advised by Verdi & Yazici Law Firm, Istanbul. Onur Yegenoglu Managing Director of Elektrik, commented: “We are very excited about being a part of IMSG. Elektrik is already an important player in the Event Management Business in Turkey and we believe that with the help of this alliance, acceleration of our growth will increase significantly.
Commenting on the latest acquisition by the Group, Gregory Thain, Executive Chairman of IMSG, said: “IMSG is continuing to expand its footprint and to develop its services in each country so we are able to offer a complete through-the-line service to our clients. With this acquisition in Turkey, IMSG will have an Events business alongside its Marketing, PR, Advertising, Branding and Internet businesses. Elektrik has built up an impressive client base since it was established and we are delighted to add it to our portfolio of businesses in Turkey so we can offer expertise in Event Management to our existing local and international clients as well as offering Elektrik’s own clients a wider selection of marketing services.
International Marketing & Sales Group Limited Tel: + 7 495 796 6141
Andrew Best / Emily Bruning
Shared Value Limited Tel: +44 (0) 20 7321 5022
www.sharedvalue.net Tel: +44 (0) 7798 576 378
Elektrik IIetisim Organizasyon Hizmetleri Limited Sirketi
www. elektrikistanbul.com Tel: +90 212 2657616
Mark Williams / Andrew Chubb
Canaccord Adams Limited Tel: +44 (0)20 7050 6500
Notes to Editors
* IMSG was founded in 1996 by its Chairman and Chief Executive Officer, Gregory Thain.
* The Group was admitted to trading on AIM on 6 December 2005. The Group’s NOMAD and
broker is Canaccord Adams Limited.
* Since 2002, the EBITDA of the Group has grown at a rate in excess of 100% per annum. IMSG
has been profitable since 2000.
* The Group’s clients include multinational and first tier local companies operating in FMCG,
telecommunications, retail trade, banking and finance, automotive, consumer electronics and
* IMSG currently has 30 offices in emerging markets. These offices are situated in: Moscow,
Saint Petersburg, Yekaterinburg, Kazan, Nizhniy Novgorod, Novosibirsk, Rostov-on-Don,
Samara, Krasnodar (Russia), Kiev (Ukraine), Almaty, Astana (Kazakhstan), Dushanbe
(Tajikistan), Istanbul (Turkey), New Delhi, Mumbai, Bangalore, Chenai, Kolcata, Hyderabad
(India), Budapest (Hungary), Athens (Greece), Bucharest (Romania) and Sofia (Bulgaria.
* In July, 2007, the Group was re-organised and a new Jersey-incorporated parent company,
International Marketing and Sales Group Limited, was put in place. The shares of the new
parent company were admitted to AIM on 19 July, 2007.
* Further information about the Group is available on its website at: http://www.imsg.co.uk