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Quaestor Acquired by eq in UK
Marketing services company eq group has this week announced the acquisition of UK agency Quaestor Research & Marketing Strategists Limited.
Quaestor, based near Leeds, is a full service agency providing both qualitative and quantitative market research services to a range of predominantly blue chip clients in the UK. Services provided by Quaestor include research into branding, media strategy, children and youth markets, customer service and product development.
The initial consideration paid on completion amounted to £2 million, half of which has been paid in cash and the balance has been satisfied by the allotment of 1,086,602 ordinary shares of 10 pence each in eq. A further cash payment of £219,302 has been made to reflect surplus cash in the business at completion.
In the twelve months to 31 December 2001, Quaestor made audited pre-tax profits of £303,147. Commenting, Bob Bond, Chief Executive of eq group said 'Quaestor is an established research agency with a reputation for providing high quality, customer-focused research. As such, it fits neatly within our growing portfolio of well-managed, profitable companies that provide marketing information services. We are delighted that Quaestor's existing management are staying with the company and we expect all companies within eq group plc to gain from Quaestor's particular expertise.'
He continued 'Quaestor is an excellent addition to the group. It demonstrates our continued ability to attract and acquire quality businesses even during tough economic conditions. During 2003 we will continue to adopt a highly selective approach to acquisitions, but with a particular focus on marketing communications in the UK and market research in mainland Europe and the United States.'
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