Kin + Carta Completes Sale to Valtech

In London, 'experience innovation' firm Valtech has announced the completion of its acquisition of digital transformation consultancy Kin + Carta, in a deal valued at £239m.

Kin + Carta was formed in 2018 when UK marketing services group St. Ives changed its name after disposing of its legacy printing and publishing businesses, focusing instead on digital services. Since then it has disposed of a number of MR and analytics-focused assets but acquired others, including Edinburgh's Forecast Data. News of an impending sale of the group broke in October last year with the board recommending a bid from private equity advisory firm Apax Partners, valuing it at around £203m, later raised to 120p per share. Valtech, a company controlled indirectly by funds advised by BC Partners LLP, stepped in by February with a higher bid and its offer was backed by the Kin + Carta board.

The deal, which will bring Valtech close to $1bn in revenue, is being funded by a combination of shareholder equity and external debt and will see Kin + Carta delisted from the London Stock Exchange. Kelly Manthey (pictured left) and Chris Kutsor, Kin + Carta's CEO and CFO respectively, will take the same titles within Valtech Americas, effective immediately.

Among the anticipated benefits are global scale, with Kin + Carta's 1,900 consultants, engineers, and data scientists including a strong footprint in the US and UK, plus LATAM and SEE delivery centres, adding to 6,000 professionals at Valtech; increased vertical reach, with new clients in sectors including agriculture added to Valtech's coverage of retail, finance, automotive and public sector markets; end-to-end delivery; and the arrival of key clients including 'America's largest automotive manufacturer, top financial institutions, top retailers and distributors'.

Valtech CEO Olivier Padiou (pictured right) comments: 'Valtech's vision has always been to become the world's most influential Experience Innovation company. This acquisition marks a pivotal moment in achieving that. By bringing Kin + Carta's extensive expertise and client roster into the fold, we enter a new and exciting era. This means helping brands set new standards with intelligent and personalised experiences, powered by data and AI, that touch lives, grow businesses, and change how people experience the world'.

Web sites: www.valtech.com and www.kinandcarta.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.