Event companies Delaney Marketing Group and Ovation Group today announced details of a merger aimed at creating Ireland’s leading provider of services to the conference, event management and business tourism sectors. According to information provided by the companies, the merger involves the transfer of equity between Delaney and Ovation, resulting in a combined entity valued at €6.2 million ($6.1 million).
The new company, which will be based at the Delaney offices in Dublin, will employ 50 and operate under the Ovation name. Company officials predict revenues exceeding €12 million ($11.8 million) by the end of next year, with the goal of increasing revenue to €18 million ($17.7 million) over a three-year timeframe. Now with offices in Dublin, Belfast and Cork, the enlarged company plans to expand internationally by 2004.
Commenting on the merger, Ovation managing director Ciaran Hynes said, “This is a very positive step for the teams of both companies and will give us pole position domestically and the scope and scale to expand our operations into the international market. Ovation’s strengths lie in the conference and event side of the business while Delaney Marketing’s strengths lie in the management of meetings, incentives and motivational programs. Our customers will benefit from having the combined resources and expertise of some of the best and most creative event and meeting organisers in the Irish market.”
Ovation is owned equally by Patrick Delaney, Pádraic Gilligan and Hynes. Delaney will assume the position of partner and CEO of the merged entity with Gilligan taking the position of partner and marketing director and Hynes assuming the position of partner and managing director.
In welcoming the merger, Delaney said, “We look forward to this exciting time for us in the Irish market. This merger will provide us with the scope to pursue significant levels of new business in Ireland. We are also confident about our ability to extend our service into other markets. Our team will gain from the union of these two businesses as they will get the opportunity to play a key role in the expansion and development of this business going forward.”
In January, Delaney Marketing won a Gala Award from Special Events Magazine for Best Event Produced for a Corporation or Association, Overall Budget Under $100,000.
