Looking to pull in £3 million from investors, former Ogilvy & Mather chief executive Paul Simons is bringing his newly assembled advertising and marketing group Cagney to AIM next Monday.

The money will help pay for three acquisitions: creative advertising agency Walsh Trott Chick Smith, public relations consultancy Media Foundry and marketing company Cubo. ‘The plan is to continue building the group,’ says Simons, who was ousted from the top job at global player Ogilvy & Mather back in 2002. ‘We’ve got a couple of acquisitions we’re looking to pursue, valued in the tens of millions.’

The reason for the creation of Cagney, (an anagram of ‘agency’) says Simons is because ‘the UK market is polarised between the big groups and the independents. We see a second wave of small groups forming in the vacuum – we’re looking to be a player there.’

On arrival Simons will have 18 per cent of the shares, priced at 8p in the placing. ARM Corporate Finance is nominated adviser and Keith Bayley Rogers broker to the float.