• by Laurie Petersen , April 10, 2007

Creston plc, the U.K.'s fastest-growing publicly traded holding company, is officially on the prowl for independent stateside marketing services and digital talent and armed Steve Blamer, new CEO of Creston plc U.S., with a $100 million war chest to find it.

"We're looking at agencies and digital, because of its importance, is definitely a priority. But we're looking for digital as part of an integrated effort," Blamer said in an interview following the announcement of his appointment yesterday. As an example, he pointed to Delaney Lund Knox Warren & Partners Group, a U.K. agency acquired in 2005 serving General Motors, Burger King, eBay and Exxon Mobil.

The Creston model, Blamer said, is for the principals of companies it acquires to be shareholders in Creston and to become part of its U.S. operating group.

"We don't meddle in the business," he said. "There are only nine people in Creston in the U.K. and over 900 employees. We view it as an upside-down pyramid. If someone is looking for a 100% cash deal, we're not interested."

Blamer said he's targeting firms with profits in excess of $3 million and has $100 million in cash to finance deals without having to go back to the Street.

As an executive running large operating groups at Grey Worldwide and FCB Worldwide, Blamer said he's sensitive to the issues that cause entrepreneurs grief.

"I had a great deal of frustration, with the holding companies I worked with," he said. "The bottom line is I don't think if you're a young entrepreneur you have a choice if you want to get to the next level. But [at Creston], you won't be treated 8th or 9th and get to sit at the children's table."

Creston has brought 10 brands under one roof in the U.K. spanning advertising, public relations, digital marketing, market research, direct marketing and CRM, among other capabilities. Billings were up 43% and revenues up 49% based on half-year 2007 financials.

Last year's revenues were $85.9 million. Clients span major categories and include AstraZeneca, British Airways, Burger King, Diageo and Nestle. Approximately 70% of billings come from repeat business.

Blamer said he expects to close his first deal by the end of the year.