Mithril Capital to Buy Digital Media Firm Agency 21

Global investment firm Mithril Capital has agreed to buy UK-based digital media and analytics group Agenda 21 in a reverse takeover, and appointed Engine Group co-founder and former CEO Peter Scott to lead the venture.

Founded in 2005, Agenda 21 develops multi-channel campaigns across pay-per-click, natural search, display advertising and other paid media, underpinned by proprietary analytics. The company is currently owned and managed by its founders, Pete Robins and Rhys Williams, who will remain with the business upon completion of the acquisition, which has been led by Scott (pictured). Mithril Capital will buy the entire issued capital of Agenda 21 for an initial consideration of £3.3m with a deferred consideration of up to £8.6m subject to performance over the next three years.

Having co-founded Engine in 2005, Scott left a year ago, after the company was acquired by ORC's Chicago-based backers Lake Capital. His previous career included the setting up of WCRS in 1979, and serving as Chairman and CEO of Aegis Group.

In a statement, the Agenda 21 directors said that together with Scott, they aim to use targeted acquisitions to build a digital-centric network of specialist companies operating in the marketing services, technology and eCommerce sectors across the UK, Europe and the US.

Web sites: www.mithril-capital.com and www.agenda21digital.com .

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