We are delighted to announce that Results Healthcare, part of the Results International Group, has acted as exclusive financial advisor to the shareholders of Cherry on their acquisition by Avenir Global.
This transaction reinforces our expertise in driving value for innovative companies within the healthcare medcomms space. It is Results International Group’s 20th transaction in the last 12 months.
Cherry is a full-service healthcare creative agency based in London, UK. Founded in 2005 the company has experienced consistent strong growth and is now the UK’s largest independent healthcare creative communications agency. Cherry has annual revenue of £9.2 million, 80 employees and a client base that includes Boehringer Ingelheim, Eisai and Shire.
Montreal-based, Avenir Global is one of the 20 largest communication firms in the world, with operating companies that include London-headquartered Axon Communications and its sister communications consultancy Madano.
Avenir Global welcomes Cherry to their global family, from brand strategy to social and interactive, Avenir will be able to draw on Cherry’s award-winning creative and digital expertise to help brands engage with the right people, at the right time. This transaction will allow them to provide new thinking and the highest quality innovative services to their clients across the group.
Cherry’s leadership team, which is headed up by Managing Director John Goundry will remain in place at the central London agency following the transaction.
Both companies share common values and complimentary expertise. At the same time, they see exciting synergies with Axon to expand the services they offer clients. Avenir Global has a proven record of helping businesses grow, with the organisational reach to propel their client offering and growth in the EU, US and Canada.
John Goundry, Managing Director at Cherry:
“We thoroughly recommend working with Results. In the years leading up to our transaction, and throughout the sale process they have given us excellent and committed service. They know everyone in the sector and really understand our business – which led us to finding just the right partner in Avenir Global. They are also excellent at the hard work of deal structuring and negotiating – which has resulted in a great outcome for Cherry. I can highly recommend Results to anyone considering the next steps for their business”.