Porta seals buyout deal for WFCA

Porta Communications, the company embroiled in a legal fight with former Media Square directors, is set to acquire independent agency WFCA in a deal worth nearly £1.5m.
The deal is the brainchild of WFCA chairman Bob Morton – who also holds shares in Porta – and will see Porta acquire 83% of WFCA shares for £1.49m.
Through the deal, WFCA will be merged with another recent addition to the group, media agency Twenty20. WFCA’s clients include Londis, Age UK, Axa, Greene King and Pilgrim’s Choice.
The move is part of a strategy to build, through acquisitions and start-up ventures, an international communications business. Porta already owns sports and entertainment agency Impact34, PR business Newgate Threadneedle and finance specialist Newgate Trading.
Morton will become a non-executive chairman of the group, and David Wright (pictured) its chief executive.
Wright commented: “The acquisition of WFCA is in line with our growth strategy and follows our recent acquisition of Twenty20. We believe that there will be operational efficiencies and plc cost savings in combining WFCA with Twenty20 and that the combined businesses will create a strong agency focused on the retail sector, among others, and also enhance Porta’s media buying capability.”
WFCA finance director Stephen Latter added: “Porta is a marketing communications business with ambitious growth plans both geographically and in breadth of service, and with our excellent creative and media services, the combined organisation offers a compelling proposition.”
Last month the former directors of Media Square – who now run MSQ Partners – had a £263,933 compensation claim thrown out against Porta and chief executive Wright, who they blame for triggering the collapse of the marketing services group.