Karmarama looks to expand following private equity deal
Karmarama, the independent agency, has secured a significant tranche of funding from Phoenix Private Equity Partners and is set to use the finance to fund an acquisition spree.
Karmarama's management team
Phoenix, which recently unveiled an investment fund of £450 million, has taken a sizeable minority stake in Karmarama with the agency’s partners also reinvesting in the business.
Karmarama now aims to acquire, invest in and recruit staff from companies in the direct, data and technology sector. The funding could also help to build a Karmarama presence in markets outside the UK.
The agency will continue to be majority owned by the Karmarama partners alongside Phoenix. The partners are the chief executive Ben Bilboul, the executive chairman Nicola Mendelsohn, the chief creative officer Dave Buonaguidi, and the chief strategic officer Sid McGrath.
Karmarama’s management team will be joined by two new partners following the Phoenix deal. Adam Silver, the corporate development director at marketing services group Fusion, takes on the title of corporate development director, and Charles Watson, the former group chief executive of public relations company Financial Dynamics, has been appointed chairman of the group.
The backing from Phoenix will also cover Karmarama’s TV production division Kream and PR business Kaper. It marks the third investment by Phoenix since it launched its fund. Recent deals include investments in Jimmy Choo and LK Bennett.
Bilboul said: "Today’s announcement secures our independent future and opens up a multitude of new opportunities for both our clients and our people. This investment will help us lead the market in the fusion of creativity, technology and data, and we’re looking forward to partnering with other like-minded entrepreneurs to help achieve this. "
This article was first published on campaignlive.co.uk
Latest jobs Jobs web feed
- PR Account Director fishtank 40k to 55k per year GBP, Surrey
- Digital Search & Acquisitions Officer Topshop Up to £30,000 per annum + benefits, London
- planner > SHOPPER EVANGELIST > brilliant role for those SUITS looking to move across into PLANNING collectivo £30-40k + bens, London
- Marketing Executive Warner Bros £ Competitive + benefits, Holborn, London
- Senior Digital Planner - Superb Integrated London Agency - FMCG Accounts - Up to £70K Fill Recruitment Ltd Up to £70K, London
- Copywriter The Little Black Book Agency £20000 - £25000 per annum, Manchester
Big Questions Live - Social Media, User Generated Content and the Power of Customer Insight (Webcast) External website
Brand Republic’s first ever online TV show, Big Questions Live wil...
Integrated digital marketing offers huge opportunities to engage, servic...
The PR industry’s lack of success at the Cannes Lions festival 201...
Confused by hashtags? Tweetchats? Tweet walls? You’re not alone.Wi...
It’s fair to say we are truly in the age of content marketing, the...
As a nation, the UK is media and technology obsessed with over half of t...