Edit, which provides data analytics & marketing services has been acquired from Kin and Carter by a newly established marketing services group for £14.8m.
The deal for Edit, which employs more than 120 staff in Bath and London, was financed by an investment from private equity firm NVM. The transaction is the first by Salocin Group, an acquisition vehicle headed by Nick Dixon, as part of a strategy to build a tech and data-driven marketing services portfolio. The Edit leadership team, including its joint MDs Rob McGowan and Jeremy Fisher will take a stake in the business with Dixon, who assumes the role of executive chair.
In a statement, McGowan and Fisher said: “Edit received interest from a number of buyers, but as soon as we met NVM and Nick, we knew they would be the perfect fit to take the business forward. Nick’s industry expertise combined with a real understanding of the processes and procedures needed to accelerate growth demonstrated a strong fit for our ambitious growth plans.” (Dixon most recently sold Blueberry wave to HH Global).
Dixon said: “I have kept tabs on Edit from afar for several years, their clear strategic focus on maximising the value of first-party data, and their innovative award-winning campaigns demonstrate their class-leading credentials. I look forward to contributing to the next phase of their growth through our new partnership with NVM”.
NVM investment partners Peter Hodson and Charlie Pidgeon will also join the company’s board upon completion of the transaction. Hodson said: “We are delighted to be backing Nick and the team at Edit to build on what is already a fantastic business. Edit is one of a very small number of companies that are able to bridge the worlds of data and marketing. Their strong heritage in 1st party data and loyal customer base set them apart from their peers.”
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