British-based consultancy Next Fifteen Communications (Next 15) has agreed to acquire media and marketing services company Engine UK for £77.5m.
Engine UK is a division of Engine Group Holdings, which has been owned by Lake Capital since 2014. The UK business operates under three pillars: communications, creative and transformation - each with its own management team. The latter Business Transformation consultancy combines strategy, data and technology to deliver change to public and private sector organisations, and represents a third of Engine UK's revenue.
Engine UK has around 600 staff from a wide range of disciplines including creatives, brand experts, product and UX designers, editors, consultants, data scientists and technologists, healthcare specialists and communications experts. In the year ended 31 December 2021, Engine UK increased its net revenue by 18% to £88.6m and generated adjusted EBITDA of £11.8m.
Revenue growth opportunities identified by the transaction include an existing partnership with Next 15's data and insights group Savanta, as well as other agencies. In addition, the takeover will also provide cross-functional data and digital B2C growth capability, and the ability to collaborate on a new set of data products. Tim Dyson (pictured), CEO of Next 15, comments: 'Acquiring this broad-based digital transformation, communications and creative business fits well with our track record and strategy of adding growth businesses which then contribute to our target of doubling the size of our business in the next three to five years.'
Web sites: www.next15.com and www.enginegroup.com .
All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.