Freeman pulls SO Group from administration

SOGroupSO Group has been plucked from administration and has been acquired by The Freeman Company.

Freeman and SO Group revealed the news on Thursday evening and announced that the business and assets of SO Group have been bought. Freeman emerged as the successful bidder for SO Group in an accelerated sales process following administration.

The business and assets of SO Group, and its subsidiary 360 Creative Event Services, will be incorporated into the Freeman family of brands and the business will operate under the trade name SO Group, a Freeman Company.

Matt Ingram, joint administrator of Duff & Phelps, commented: “From the outset of the administration process Freeman has demonstrated a real commitment to see the transaction concluded. I am delighted that it has been successful in its bid as it provides a positive result for over 350 employees and offers a much enhanced outcome from creditors than any other realistic proposition.”

Added Joe Popolo, chief executive officer of Freeman: “For 86 years, Freeman has focused its business on responding to the specific needs of each client. Our customers are increasingly looking for strategic partnerships that provide seamless service beyond North America, and this acquisition positions us to answer that call. We are extremely excited to bring these two businesses together.”

Both companies have chosen not to disclose financial information related to this transaction but they say that the acquisition will expand each business’ geographic scope, and the breadth of capabilities and expertise to “deliver the most creative and strategically innovative face-to-face marketing engagement solutions”.

“The two businesses share a similar culture, complementary services and a shared commitment to delivering exceptional customer experience,” said David Walley, chief executive officer of SO Group. “We are excited about what this acquisition by Freeman means for customers in North America and the UK, and we look forward to a smooth integration that brings the best of both operations under one brand.”