US buyer acquires Fitch for 26m

US marketing services company Lighthouse has acquired Fitch, the quoted global product, corporate identity and retail specialist, for 26m.

The deal was brokered by independent investment bank Granville Markets and announced to the stock exchange yesterday (Tuesday).

Nick Harvey, Granville Markets chairman of investment banking, says: “Nothing at Fitch will change, except that Lighthouse chief executive Terry Graunke will join the Fitch board. There will be no redundancies.”

Fitch chairman and chief executive Martin Beck says: “We were finding it frustrating trying to grow as we were, but now we can realise our plans to grow into a truly global company.”

Lighthouse UK director Mark Scott confirms the new parent will invest heavily in Fitch, but declines to give figures.

Lighthouse was set up six months ago as a holding company for non-advertising marketing services and has just opened a UK office.

Fitch has 500 staff and its clients include BT, Sainsbury’s, Debenhams, Tag McLaren and De La Rue. It has offices in London, Michigan, Ohio, New York, Boston, Paris, Singapore, Osaka, San Francisco.

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here