Publicitas Sold in Management Buy-Out
What: The management team of Publicitas has completed a buyout of the company from German
Why it matters: Publicitas has a cross-media portfolio of over 8,000 promotional offerings in Switzerland and abroad. Publicitas is active in the media representation business in the U.S. and Latin America.
Germany based Aurelius investment group is selling its subsidiary Publicitas, an advertising marketer whose head offices are located in Zurich, Switzerland, to its existing management team headed by CEO Joerg Nuernberg and CFO Dr Carsten Brinkmeier. It was agreed that no information on the financial details of the transaction would be disclosed. Aurelius bought Publicitas Publicitas two years ago from the Swiss Publigroupe.
Publicitas has a cross-media portfolio of over 8,000 promotional offerings in Switzerland and abroad. Advertising clients and agencies can use these to position their messages via media placements in leading daily newspapers, luxury magazines, on outside advertising, in TV and radio stations and onmobile and digital platforms in over 100 countries.
Aurelius took over Publicitas from the Swiss PubliGroupe in July 2014 and since then, has given it an entirely new operational direction and consolidated the business. The purchasing management team will systematically continue the measures already initiated and will continue to expand digital activities with top priority.
Support processes such as accounting, order-handling and other administrative processes are to be successively outsourced to the established shared service-centre ad back-office in Bratislava (Slovakia), thereby contributing to further cost-savings and increases in efficiency.
"This is an exciting time for Publicitas, our sustained growth will allow us to continue our ongoing investment into digital innovation. Our focus remains on our partnerships and service quality, which are aligned with our business growth strategy, supported by new technology development and a growing number of sales staff," said Joerg Nuernberg, Global CEO - Publicitas AG.