Martin Sorrell creates new company to relaunch his marketing career
After the rather ignominious ending of Sorrell's career at WPP, Marty has created a new shell vehicle to build his second marketing services group.
This is the same approach to how WPP as we know it was formed. Wire and Plastic Products, a Kent-based maker of dish drainers and milk bottle holders was chosen to be the vehicle that became WPP as we know it. Even today, Wire and Plastic Products remains part of WPP.
Derriston Capital will acquire Sorrell's S4 Capital, which has been seed-funded with £51m, of which £40m came from Sorrell himself. The company will be renamed S4, and will have "... a new corporate strategy to build a multi-national communication services business, initially by acquisitions."
"S4 Capital is a company that aims to build a multi-national communication services business focused on growth. There are significant opportunities for development in technology, data and content. I look forward to making this happen."Sir Martin Sorrell
More on this as it comes in - in the next few hours, days, weeks, months...