The acquisition of Red Flag Communications by Ankura Consulting Group highlights the ongoing trends of consolidation in the Irish communications sector. Established in 2013 by former journalist Mr. Brophy and his partner Deirdre Grant, Red Flag has grown into a significant company with a turnover of €13.5 million. The deal, estimated at €45 million, involves up-front payment and earn-outs based on performance. Mr. Brophy intends to reinvest profits and remain at the helm as the company continues to operate with its existing leadership team.
Once you get to a certain size, and we were getting there, you either have to sell or find a partner to grow. We chose the former.
The amount paid by Ankura Consulting Group was not disclosed in the announcement; however, it is estimated that the deal was probably sealed at €45m.
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