Enero Group has sold its 75% interest in Frank PR (Frank) as part of a management buyout led by two of the existing 25% minority shareholders: Chairman and Founder, Graham Goodkind and Managing Director, Alex Grier.
Enero Group CEO, Brent Scrimshaw, said: “Enero continues to sharpen its focus on the core agencies of the Group in line with its strategy announced at the 2020 AGM. The Frank sale will provide additional capital to allocate to high growth opportunities across the global network of the Hotwire and Orchard brands along with BMF in Sydney, in addition to future acquisitions that accelerate capability across the Group.”
“Frank has been a significant contributor to Enero’s portfolio since joining the group 14 years ago, however we also recognise that Frank’s independence is the most advantageous path forward for its future growth. We wish the management and the whole team at Frank all the best for future success.”
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