TPI targeting a digital agency following Pluto acquisition

TPI, the growing Dublin marketing group that last week bought events firm Pluto Communications, remains on the acquisition trail and is on the hunt for a digital marketing firm, according to group chief executive Colin Culliton.

TPI, which was focused on printing activities until the recession, has expanded heavily in recent years, snapping up a number of smaller operators to form a diversified marketing group.

Pluto, founded by Elaine O’Reilly and Cathy O’Donohue, has 14 staff and operates from offices in south Dublin. It specialises in “experiential marketing” – the direct engagement of consumers with brand events – and its client list includes Aldi, Eir, Seat, Google and Bank of Ireland.

The company, which will continue to be run by Ms O’Reilly and Ms O’Donohue as a unit within the TPI group, had shareholders’ funds of €605,000 in April of last year, according to its most recently filed accounts. The consideration paid by TPI was not disclosed.

Mr Culliton, a finalist in the EY Entrepreneur of the Year awards, said TPI is now on track for revenues of €20 million next year. Its total staff numbers have grown to 135 from less than 80 a few years ago.

Mr Culliton has group by acquiring several small businesses in the last couple of years, as well as starting new units from scratch. In addition to its original printing business, the TPI group also comprises the Runway Marketing agency, Zest Merchandise, graphics studio The Creative Works and the Tap marketing consultancy.

Pluto will form the sixth operating division of the group, focused on experiential marketing and event and conference management.

“We are focused for the moment on bedding down the six units that we now have within the group,” said Mr Culliton. “But we are still interested in buying a digital marketing agency and we are actively looking. We have held talks with several possible acquisitions, but nothing has come of those discussions yet.”