Expressing concern for the environment and a desire to meet consumers' communication preferences, the SEC has voted to allow fund companies to post documents on websites and tell shareholders how to access them electronically. The move was a nod to a longstanding request from the mutual fund industry, which has pressed for email, rather than regular mail, to be the default method for disseminating shareholder reports, according to a report in the Wall Street Journal. Technically, the shift involved a rule change passed on a 4-1 vote that will allow funds to post the documents on websites and tell shareholders how to access them electronically. Click Read More below for additional information.
HH Global is pleased to announce the completion of the acquisition of Adare International (including Purple Agency), from the private equity firm Endless LLP, following the signing of an agreement on Monday 21 June 2021. The combined business will generate approximately $2.1bn in annual sales.
This deal will create a joint global business with over 4,000 employees and a presence in more than 65 countries, cementing HH Global’s position as market leader. It will also allow stronger in-country operations, helping to propel seven of our local markets to achieve local annual run rates of over $50m revenue for the first time.
Mike Perez, Group CEO of HH Global, expressed “Following on from the successful integration of InnerWorkings in October last year, we are thrilled to join forces with Adare International. Welcoming new clients and colleagues on board is always an exciting process, and the strength of Adare International in these areas was a key motivation for our interest in acquiring them. I’m also particularly excited to enhance our capabilities in creative services in the healthcare and B2B sectors with Purple Agency, and to take advantage of the enhanced geographical reach and local revenue within their regional operations.”
The complementary nature of our business models and our shared passion for innovation, sustainability, and commitment to delivering outstanding services, assures me that this acquisition will allow us to continue to boost the growth momentum we have built over the last few years. On behalf of everyone at HH Global I would like to wish both employees and clients alike from Adare International a very warm welcome to the HH Global family.”
Andrew Dutton, Group CEO of Adare International, is also excited for what the merge will mean for the future, stating “Having been the CEO of Adare International since 2016, I have had the privilege of helping to grow our business into the exceptional marketing services provider it is today. Our dedication for delivering innovative, integrated marketing solutions to clients around the world aligns perfectly with the strengths of HH Global, making us confident that this partnership represents the best path for our company going forwards.”