PR agency Cole Lawson acquired digital, marketing and branding group Ruby6 on March 2, creating one of Brisbane’s largest, mid-sized integrated agencies.
Ruby6 founder Angela Mogridge, who will stay with the Cole Lawson Group as the director of the creative business and Ruby6 brand, said the move was the perfect solution for her growing business.
“Ruby6 was experiencing huge growth and needed a bigger team with complementary skills who can give our clients the agency full-service they are increasingly wanting,” Ms Mogridge said.
“Cole Lawson offered a compatible culture and a set of services that filled our gaps, and vice versa. We were able to move straight into their offices and deliver some immediate savings across the group.”
Ruby6 boasts clients such as Ezidebit, UQ, Total Fusion, Crowne Plaza, Jamie’s Pizzeria, Tiger Air, Belle Property, Fitstop, Corbett & Claude and Comuna Cantina.
Cole Lawson Group managing director Margaret Lawson said the acquisition of the independently successful and complementary businesses was expected to bring significant synergies and growth opportunities to the company that she founded in 2008.
“We plan to operate Ruby6 as a subsidiary of the Cole Lawson Group with no changes to the brand,” Ms Lawson said.
“For clients, there will be the addition and streamlining of services and resources on their accounts, but no disruption or visible changes.”
Ms Lawson said as well as harnessing economies of scale for clients, some of the synergy savings from the acquisition would be invested in building the firm’s talent pool.
“There is a lot of competition in the Brisbane market for skilled employees, and this acquisition will make us a more attractive prospect for talent by providing a bigger client book, more growth opportunities, and more variety in our service offering.”
The Red Republic founder Fleur Madden brought together Ruby6 and Cole Lawson, having coincidentally been advising both founders on opportunities for growth and acquisition.
“There are some amazing, independent creative businesses in Australia and I was delighted to bring together two successful agencies owned by dynamic female founders,” Madden said.
“There will be a tremendous amount of magic to come from the joining of these two businesses and while formidable independently, together there is no doubt they will be a bigger force in the industry nationally”.
Madden is no stranger to business sales, having successfully sold The Red Republic to international advertising group McCann in 2016.
She exited the business last year (2019) and has since been advising other agency owners since on business, growth and sale strategies.