Enero ready to start shopping as business finds stability with cash in the bank

Seven years after it last opened the cheque book, Enero says it is ready to re-enter the acquisition market on the back of a strong 2016 result.

Melhuish says Enero now in good health, debt free and ready to acquire

Melhuish says Enero is now in good health, debt free and ready to acquire

The agency last entered the buyer’s ring in late 2009 as Photon Group when it splashed $54m on Brisbane internet marketing company Dark Blue Sea – the last of a swift series of acquisitions that proved to be the straw that broke the camel’s back.

Within weeks of the deal, CEO Matthew Bailey departed, followed by executive chairman Tim Hughes, who stepped down, and then finally, the company, abetted by the GFC, was placed in a trading halt and restructured as it realised it could no longer service its debt.

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