Mar 2014 – GCP supports portfolio company Fishawack Group with funding for the acquisition of US-based JK Associates Inc.
GCP supports portfolio company Fishawack Group with funding for the acquisition of US-based JK Associates Inc.
GCP makes its third investment in 2014
London – 27 March 2014
Growth Capital Partners (GCP), the provider of blended equity and debt to the UK’s small to medium sized businesses, today announces that it has funded the acquisition of JK Associates Inc. by Fishawack, an independent medical communications agency based in Knutsford, Cheshire. This is the second bolt-on acquisition that Fishawack has made since GCP invested to support its secondary buyout at the end of March 2013 and, following the recent Chaucer Group and Advanced Insulation transactions, this is the third investment that GCP has made this year.
Fishawack, one of the largest independent medical communications organisations, has acquired JK Associates Inc, significantly expanding Fishawack’s presence in the USA. JK Associates operates under the JK Medical Communications, Arbor and Endpoint Medical Communications brands, as well as 1010 Digital. With teams based in Philadelphia (PA), and Ann Arbor (MI), JK adds to the Fishawack Communications team already based in Philadelphia.
Garrett Curran, Partner at GCP, commented:
“We are delighted to support Fishawack in the latest step of their buy and build strategy. The acquisition of JK Associates enables significant additional critical mass and key clients in the USA, which is a core component of our international growth plan.”
Oliver Dennis, CEO of the Fishawack Group said:
“Along with what is now Fishawack Communications Inc, this is our second US acquisition. Clients want integrated agencies that can work together across geographies on global accounts when required. When we discussed the synergies between us it was obvious – Fishawack needed more depth in the USA and JK needed a European-based team with greater resources.”
John (Zeke) Czekanski, President and CEO of JK commented:
“We first worked with Fishawack in 2004 on a joint business pitch. We were so impressed then, that we thought we might join up one day. Ten years later and we have. Kevin and I are excited to stay on and join the Fishawack board.”
Dominic Miller, Fishawack’s Chief Financial Officer said:
“We have a tremendous investment partner in GCP and together we plan further expansion.”