SI Partners advised Velocity on the deal.
Next 15, the digital communications group, today announced the acquisition of the entire issued share capital of Velocity Partners Limited (“Velocity”), a B2B digital agency with a focus on technology clients. SI Partners advised the shareholders of Velocity on the deal from buyer identification to transaction negotiation and completion.
Velocity was founded by Doug Kessler and Stan Woods in 2000, who will remain in the business following its acquisition. Clients include multi-national technology groups, such as Sprint, Xerox and Informatica. Velocity is based in the UK, however, 70% of its revenues came from US-based clients in financial year ended 30 April 2017.
Velocity has always been fiercely independent. We weren’t sure there would be such a thing as a good home for us. But as soon as we met the folks at Next 15, we could see that these are our people: a smart, creative, focused and, above all, nice group of professionals who are as excited as we are about geeky things like digital, data and content. This is going to be fun.
Joe Hine, Partner at SI Partners who led the deal negotiations commented: “Content remains highly desirable to acquirers. We are delighted to have found such a talented agency a home with excellent commercial and cultural fit. The chemistry was evident from the start and I am in no doubt that this union will prove to be an excellent platform for growth and innovation for both businesses.”
Tim Dyson, CEO of Next 15, commented: “Data-driven content marketing is the fastest growing part of the marketing mix right now. This is a key area of investment for us going forward. Velocity has built an impressive business with a strong B2B focus that means it is well placed to achieve its ambitions in the US and UK markets. At its core is a strong management team that shares our vision and values. We are very excited to work with them to help them achieve their plans.”
Stan Woods, commenting on SI Partners said: “SI was the stand-out choice from the posse of advisors we looked at. What we expected was a smart set of deal makers who knew the market inside out. We got that of course. But what we didn’t expect was their absolute commitment to what Velocity is all about. They bought into the soul of the company and negotiated with that front and centre in their minds. Their advice was always clear and to the point, even when the going got technical and complex. Each of the team, from the most to the least senior, was on top of the hundreds of issues that go into work like this at every moment. They were accessible. Above all, they are nice, straightforward people who resist every temptation to bullshit. They exceeded our every expectation as partners for something as important as this.”