Polyconcept Announces Sale of ADM Division
Deal Ends Polyconcept's Role As A Distributor In Europe
Polyconcept, parent company of Counselor Top 40 supplier Polyconcept North America and PF Concept, announced it has agreed to the sale of ADM. The company is a communications agency and distributor based in Europe that was started by Polyconcept in 1992. The sale effectively ends Polyconcept’s role as a distributor in Europe.
The company was bought out by an investor group led by the ADM management team. No additional debt was accrued in the acquisition by the investor group, which has agreed to inject new financing into ADM. Financial details of the transaction were not revealed.
“This is a very exciting development for ADM,” said Justin Barton, CEO of ADM. “We are fortunate to have a stable business platform, the best people in our market and a global infrastructure we can build on. As a standalone business, we will have flexibility and focus to continue the development of our capabilities to better serve our clients.”
“We are very excited for Justin and the management team as this represents a great opportunity for both parties,” said Polyconcept CEO Michael Bernstein. “Polyconcept can now focus on its core supplier business while ADM will have the freedom to grow with key accounts in our core geographies.”
ADM is based in London and has 18 offices in 13 countries. Polyconcept will act solely as a supplier in Europe through its PF Concept division and its four companies (Avenue, Bullet, Label and WorldSource).