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NEWS22 November 2012

Explain buys innovation consultancy Wood Holmes

M&A UK

UK— Newcastle-based research agency Explain has acquired Wood Holmes, a research and innovation firm also from the Newcastle area, for an undisclosed amount.

Wood Holmes was formed in 1989 and has worked with local clients including the Coastal Communities Alliance and the Gateshead Housing Company.

David Shiel (pictured), Explain’s CEO, said: “We were particularly interested in capitalising on the research side of Wood Holmes and the market knowledge they have built. Wood Holmes is an excellent fit for Explain because the companies are very strong in different sectors and the crossover with clients is so small.”

Wood Holmes’ managing director Tamsin Greulich added: “The acquisition by Explain can only bring positive change and I have no doubt that our existing clients will be impressed by what we are able to offer with Explain.”

Explain also said that “negotiations are at an advanced stage” to acquire a London-based agency next year.

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