Marketing communications firm Holly Benson has been sold for £2.36 million. Holly Benson has two sites in Wootton Bassett, one on the Dorcan industrial estate and also offices in Oxford and Milton Keynes.

The company has 50 staff, with 18 in Swindon and Wootton Bassett.

It has been bought by Real Affinity, an Aim-listed direct marketing and communication group. The Alternative Investment Market is a junior stock market for companies working their way up to a full stock exchange listing.

The Swindon firm's shareholders were advised by Chris Inson at Swindon law firm Withy King.

Holly Benson chairman and managing director Geoff Hedges said: "This is an excellent deal for both Holly Benson and Real Affinity.

"It will enable us to offer additional professional services such as sports marketing, interactive media and direct marketing.

"We are seeking further acquisitions to strengthen our offering and being a major part of Real Affinity will make us even more attractive to potential partners.

"Chris Inson and his team at Withy King delivered the deal efficiently and on time against very demanding timescales."

Withy King advised Holly Benson's shareholders on the sale of the entire issued share capital of the company.

Subject to satisfaction of various earn-out provisions, the maximum consideration on the sale is £2.36 million, payable partly in cash and partly in shares in Real Affinity.

Earn-out provisions are included when the seller of a company believes it is worth more than the buyer does.

The parties agree to a set purchase price with an extra sum to the seller if financial goals are met.

Mr Inson, a corporate finance specialist at Withy King, said: "We are delighted to have been involved in the sale of this successful Swindon business to the Real Affinity Group, which has a strong track record for acquiring marketing agencies and strengthening them."

Real Affinity had been seeking its second significant acquisition following the purchase and integration of Navigator, the sports marketing company, in 2004.

Holly Benson, which was established in 1991, advises a list of blue chip clients on a broad range of communication and marketing issues.

Clients include Dick Lovett Specialist Cars, BP, npower and MAN Truck and Bus, EMAP and Unipart.