Lake Capital and Engine Group are delighted to announce that the proposed acquisition of Engine has been comprehensively approved by over 97% of its shareholders and is expected to complete very shortly.
The partnership between Engine and Lake’s current investments, ORC International, the global market research and business intelligence firm, and in due course Trailer Park, the world’s leading entertainment and content marketing agency, is set to be launched soon. Together with Lake’s strategic, operational and financial backing this will enable the enlarged Engine Group to take advantage of industry growth opportunities as the global economy continues its recovery.
Terry Graunke, Chairman, Principal and Co-Founder of Lake Capital, said: “We believe that the combined Engine, ORC and Trailer Park business will form the basis of a major, independent global force in marketing services and communications. We are very excited about working together with such great agencies, people and clients.”
Peter Scott, Group CEO of The Engine Group, said: “This is the beginning of the next stage of the Engine growth story, the first ten years having been spent building an intrinsically different model which we believe we can expand both organically and through acquisition particularly in the US and Asia.”