Miroma will take a majority stake in the creative agency, with Fold7 leadership retaining the remaining stake and continued oversight of day-to-day operations.
The deal is structured without an earn-out, putting in place share incentives and a four year management commitment. The deal also includes experiential agency Hyperactive, which Fold7 owns a stake in.
Marc Nohr steps into chairman and group chief executive, agencies role, with Fold7 founder and chief executive, Ryan Newey and Hyperactive founder & CEO Andrew Casher remaining in post.
Tristan Rice, Partner at SI Partners who led the deal negotiations comments: “This was always a great fit, the trick was to devise a deal structure that promotes future collaboration and value creation and avoids the silo mentality of an earn-out. The deal gives all parties a meaningful stake in the futures of Fold7, Hyperactive and the Miroma Group – and with Marc Nohr taking a group role, I think this is set up for great success.”
Campaign reports that Nohr will be responsible for developing Miroma’s proposition and supporting leaders across its agencies, with Nohr commenting: “This is a collective of entrepreneurs, not the hierarchy of old. Modern leadership is about liberating and supporting talent. Together, we’re going to achieve things we can’t do on our own to drive client growth.” Read the full coverage here.
The Miroma Group is a global communications collective of seven agencies offering ideation, creation and distribution services from offices across 11 countries, operating in 35 markets. Clients include eBay, L’Oréal, LVMH and McDonald’s.