16 June 2008
Devonshire Corporate Finance Limited (DCF) – the specialist FSA regulated corporate finance advisory business – has acted as lead advisor to the shareholders of Second2 Limited (Second2) in the multi-million pound sale of their business to the Adventis Group plc (Adventis).
Leading technology marketing services agency, Second2, was founded by James Collis and Matt Rippon in 2001. Over the last seven years, the company has developed a strong reputation in the technology sector, with an impressive client base which includes Toshiba, Nortel, EMC, Hitachi, Microsoft, HTC, Trend Micro, TalkTalk, Kingston Communications, Bell Micro and Avnet.
In a quest to expand the creative marketing services agency the Second2 shareholders appointed DCF to find a hollistic buyer and manage the transaction. DCF has negotiated a deal for Adventis to pay up to £10.5m for the business, subject to performance.
According to Marc Fecher, director at Devonshire Corporate Finance, “We used our extensive knowledge of the marketing services sector to find a buyer which would be a strong strategic fit with Second2. Adventis was the ideal company. As a major AIM quoted marketing services company, Adventis has traditionally focused on marketing and media buying services for the healthcare, financial services and property sectors. The technology specialism which Second2 has developed will become a major growth area for Adventis and will generate significant profits.”
James Collis and Matt Rippon will stay with Adventis following the acquisition. Second 2’s 38 staff members will relocate to the Adventis offices in Beaconsfield and work closely with Adventis Digital, Adventis Integrated and Adventis Health. In addition to utilising their IT expertise, the Adventis Board is planning to use the skills of Second2 to cross sell in their existing sectors, specifically healthcare.
James Collis comments, “We are delighted that Devonshire has introduced us to Adventis - a partner who shares our ethos, values and passion for what we do. Adventis will enable us to retain the unique elements that have made Second2 one of the most successful technology marketing agencies in the UK, and will also provide us with significant additional capabilities and resources. Throughout the transaction process we have benefited greatly from Devonshire’s valuable knowledge, experience in the marketing services sector and negotiating skills.”
Marc Fecher concludes, “We worked with the shareholders to find the right acquirer in terms of value and culture. Our knowledge of the sector, combined with our clear and effective sales process, has resulted in a transaction which should provide an excellent return for both parties. It was a pleasure acting for the Second2. This transaction once again demonstrates our credentials in the marketing service sector.”
