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Gyro set for expansion after securing £6m funding

LONDON - Brand communications agency Gyro International has secured a further £6m investment from an syndicate led by fund managers Octopus Investments.

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The new money follows the £3m in growth capital secured by brokers Olympus in February last year.

This funding will be used to open new international offices and make acquisitions. Gyro, which has 10 offices in countries including the US, UK, Ireland, the Netherlands, Germany, Switzerland and Sweden, aims to become the world's largest independent brand communications agency network.

The company, which achieved a turnover of more than £25m this year, a 50% increase on last year, provides integrated marketing services.

This includes brand strategy and identity, on- and offline advertising, direct marketing, web marketing, event management, corporate collateral, video and moving image, and media planning services for roster clients including Adobe, Sony, T-Mobile, American Express and Tate & Lyle.

In further news, Richard Perry has been promoted from managing director of Gyro International UK to the new role of chief strategy officer. He has been managing director since 2001 and has been with the company since 1995.

Matt Kitcherside has been promoted from client services director to general director of Gyro's UK office. He joined in 1999 from Compaq Computers.

Gary Brine, CEO of Gyro International, said: "Both Richard and Matt thoroughly deserve these promotions. Under Richard's leadership the London office has seen spectacular growth over the past few years, and the agency is now the fastest growing of all of the large agencies.

"The experience [Matt] has gained running the London office will now be used to help our other offices to achieve similar levels of growth to drive us towards reaching our stated goal of being the largest independent agency network within the next few years."

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