Smyle targets £10m turnover following Pumphouse acquisition

Brand experience agency Smyle is targeting a 21% growth in turnover in 2015, following its purchase of Pumphouse Productions.

Smyle managing director Rick Stainton on his recent acquisition of Pumphouse Productions
Smyle managing director Rick Stainton on his recent acquisition of Pumphouse Productions

Following the news yesterday that Smyle has bought live events and production agency Pumphouse Productions after a year-long search, Smyle managing director Rick Stainton told Event that the agency will be "potentially targeting a £10m-plus turnover in 2015."

Earlier this month, Smyle reported a dip in turnover to £8.24m, with a growth in gross margins for the 2013/14 financial year.

Stainton also confirmed that, as a result of the acquisition, staff at Pumphouse Productions will move into Smyle's Hertfordshire HQ in the coming months, but neither agency will be changing its company name. 

He said: "There will be no name change. Pumphouse will stay as an independent company for the foreseeable future. In the longer-term we may review a group name. The aim has been to make this acquisition clean and non-disruptive.

"In terms of location, the core team at Pumphouse will move into Smyle’s HQ in Hertfordshire in the next few months. We opened a central London office in Islington in September last year, which created the capacity for more staff to join us."

Stainton added that move is consistent with its three-year plan to grow the business and will foster new client relationships. 

More: Top brand experience agencies: Smyle

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