Ingenious Corporate Finance has advised the shareholders of Interactive Marketing Works Ltd ('The IMW Group') on the sale of the company to TradeDoubler. Ingenious led the negotiations and structuring of the deal with TradeDoubler, culminating in the sale announced today for a purchase price of £56 million in cash and bank guaranteed loan notes.
The IMW Group consists of two trading entities, 'The Search Works', the leading UK search engine marketing agency and 'The Technology Works', a technology provider for search engine marketing in both Europe and Asia, whose products include 'BidBuddy' a leading keyword and search management tool.
The IMW Group is a profitable and well managed business which has built up a significant client base including a broad range of leading brand names. It has a strong reputation within the industry for professionalism and driving return on investment for its clients. The IMW Group was founded in 1999 and currently employs 108 staff.
TradeDoubler is a Pan-European digital marketing company offering a range of performance-based marketing solutions. Headquartered in Sweden, the company boasts a unique European reach with local offices in 16 countries across Europe, a presence in a further two countries and a market capitalisation of around £390m.
Simon Nicholls, Managing Director, Ingenious Corporate Finance, said:
''We are delighted to have advised Interactive Marketing Works and its shareholders on this transaction which underlines our credentials in the digital marketing sector, one of the most exciting and fast growing sectors of the media world at present.
''The Search Works is a fantastic business with a first class management team and is one of very few specialist search businesses globally with the scale and expertise to enable a purchaser to establish a leading position in this market.
''This is an important transaction for the European digital marketing sector, continuing the recent strong trend of global consolidation but in this case between two European players who are both digital marketing specialists. The combination of the companies' core products in search and affiliate marketing, the two largest direct response marketing channels online, should be highly complementary.''
Nick Hynes, Chief Executive Officer of The Interactive Marketing Works , said:
''We are very pleased with the deal that Ingenious has put together for us with TradeDoubler. There is a natural affinity between our respective products and services as well as a strong cultural fit. Ingenious recognised this opportunity from an early stage and provided invaluable advice and expertise in structuring, negotiating and successfully closing this transaction for our shareholders.''
Nick Harvey, Head of Corporate Finance; Simon Nicholls, Managing Director; Khurram Farooq, Senior Associate; and Laura McNamara, Associate, acted on the transaction for Ingenious Corporate Finance.
Ingenious Corporate Finance acted as joint financial advisor with Clarity Capital Partners. -Ends-
About Ingenious
Ingenious, which was founded in 1998 by Patrick McKenna, former Head of the Media and Entertainment Group at Deloitte and Touche and chairman and CEO of the Really Useful Group, is a specialist media investment and advisory business with six principal operating subsidiaries; Asset Management, Consulting, Corporate Finance, Investments, Securities and Ventures.
As the market leader in media investment and strategy, Ingenious provides the full range of services to companies in the media sector, from strategic and corporate finance advice to private equity funding, as well as providing innovative investment solutions for the private investor.
About Ingenious Corporate Finance
Ingenious Corporate Finance provides advice on the full range of corporate finance transactions, including corporate sales, fund-raising and all aspects of mergers and acquisitions, including MBOs, disposals and restructurings.
Providing specialist advice in the media sector, Ingenious Corporate Finance acts for shareholders in owner managed companies, major corporate groups, private equity investors and management teams across the full spectrum of media businesses including Film and Television Production & Distribution, Music Publishing, Mobile Content, Broadcasting, Business & Professional Publishing, Consumer Publishing, Marketing Services, Radio, Media Services, Recorded Music, Broadband Content, Digital Media and Video Games.
Ingenious Corporate Finance
Nick Harvey/Simon Nicholls
Tel: 020 7319 4000
Fishburn Hedges
Andrew Reid/Paul French
Tel: 020 7839 4321