9 March 2022
We advised media and marketing services company Engine Group Holdings LLC ("The Engine Group") on the sale of its UK business to tech and data-driven growth consultancy, Next Fifteen Communications Group, for an enterprise value of £77.5 million.
Engine is a broad-based digital transformation, communications and creative business with approximately 600 staff and 300 UK and international clients. They have a high quality private and public sector client base, including global brands such as AstraZeneca, E-ON, Sky, and public sector clients including the Home Office and the Ministry of Justice.
Next Fifteen is a consultancy which helps its customers grow sustainably, whether that's focused on their revenue, brands or impact on the world. It employs over 3,000 people across 47 offices in 15 countries, incorporating 25 subsidiary agencies spanning digital content, marketing, PR, consumer, technology, marketing software, market research, public affairs and policy communications.
Commenting on the transaction, corporate partner Alexandra Richardson said: "We are delighted to have supported long standing client The Engine Group on this transaction. We have a huge amount of experience and sector knowledge in the media and communications space and we are proud to have been able to support The Engine Group on its development over the years and ultimately on this exciting transaction. We look forward to seeing what the company will go on to achieve under its new ownership."
The team was led by partner Alexandra Richardson with support from a cross practice team including Rebecca Le Flufy and Tunc Ilgin (Corporate), Glyn Morgan (Commercial and IP), Liz Wilson and Joe Fallon (Tax), Jason Rawkins (Trademarks), Joe Aiston (Employment), Louise Tobutt (Real Estate), Afshan Mallik (Pensions) and Lerika Joubert and Anna Dugoni (Banking & Finance).